Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Entity Information [Line Items] | ' | ' |
Entity Registrant Name | 'Federal Home Loan Bank of Indianapolis | ' |
Entity Central Index Key | '0001331754 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Common B Shares Outstanding | ' | 16,908,928 |
Statements_of_Condition_Unaudi
Statements of Condition (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Assets: | ' | ' | ||
Cash and Due from Banks | $514,383 | $105,472 | ||
Interest-Bearing Deposits | 487 | 48 | ||
Securities Purchased Under Agreements to Resell | 2,700,000 | 3,250,000 | ||
Federal Funds Sold | 245,000 | 2,110,000 | ||
Available-for-Sale Securities (Notes 3 and 5) | 3,688,783 | 3,980,580 | ||
Held-to-Maturity Securities (Estimated Fair Values of $7,437,226 and $7,738,596, respectively) (Notes 4 and 5) | 7,321,459 | [1] | 7,504,643 | [1] |
Advances (Note 6) | 18,796,297 | 18,129,458 | ||
Mortgage Loans Held for Portfolio, net of allowance for credit losses of $(5,500) and $(10,000), respectively (Notes 7 and 8) | 6,159,647 | 6,001,405 | ||
Accrued Interest Receivable | 81,966 | 87,455 | ||
Premises, Software, and Equipment, net | 34,047 | 28,144 | ||
Derivative Assets, net (Note 9) | 7,655 | 821 | ||
Other Assets | 27,111 | 29,610 | ||
Total Assets | 39,576,835 | 41,227,636 | ||
Liabilities: | ' | ' | ||
Deposits (Note 10): | 1,114,509 | 1,787,151 | ||
Consolidated Obligations, Discount Notes | 7,804,773 | 8,924,085 | ||
Consolidated Obligations, Bonds | 27,623,120 | 27,407,530 | ||
Total Consolidated Obligations | 35,427,893 | 36,331,615 | ||
Accrued Interest Payable | 94,866 | 87,777 | ||
Affordable Housing Program Payable (Note 12) | 39,774 | 34,362 | ||
Derivative Liabilities, net (Note 9) | 187,234 | 201,115 | ||
Mandatorily Redeemable Capital Stock (Note 13) | 255,319 | 450,716 | ||
Other Liabilities | 71,733 | 119,058 | ||
Total Liabilities | 37,191,328 | 39,011,794 | ||
Commitments and Contingencies (Note 18) | ' | ' | ||
Capital (Note 13): | ' | ' | ||
Total Capital Stock Putable | 1,684,015 | 1,634,300 | ||
Retained Earnings: | ' | ' | ||
Unrestricted | 617,186 | 549,773 | ||
Restricted | 69,404 | 41,827 | ||
Total Retained Earnings | 686,590 | 591,600 | ||
Total Accumulated Other Comprehensive Income (Loss) (Note 14) | 14,902 | -10,058 | ||
Total Capital | 2,385,507 | 2,215,842 | ||
Total Liabilities and Capital | 39,576,835 | 41,227,636 | ||
Class B-1 issued and outstanding shares: 16,798 and 16,327, respectively [Member] | ' | ' | ||
Capital (Note 13): | ' | ' | ||
Total Capital Stock Putable | 1,679,835 | 1,632,720 | ||
Class B-2 issued and outstanding shares: 42 and 16, respectively [Member] | ' | ' | ||
Capital (Note 13): | ' | ' | ||
Total Capital Stock Putable | $4,180 | $1,580 | ||
[1] | Carrying value of HTM securities represents amortized cost after adjustment for non-credit OTTI recognized in AOCI. |
Statements_of_Condition_Unaudi1
Statements of Condition (Unaudited) (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | ||
HTM securities | $7,437,226 | $7,738,596 |
Allowance for credit losses | ($5,500) | ($10,000) |
Common Stock Putable, Par Value Per Share | $100 | $100 |
Class B-1 [Member] | ' | ' |
Common Stock, Shares, Issued | 16,798 | 16,327 |
Common Stock, Shares, Outstanding | 16,798 | 16,327 |
Class B-2 [Member] | ' | ' |
Common Stock, Shares, Issued | 42 | 16 |
Common Stock, Shares, Outstanding | 42 | 16 |
Statements_of_Income_Unaudited
Statements of Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest Income: | ' | ' | ' | ' |
Advances | $30,531 | $42,089 | $93,763 | $131,002 |
Prepayment Fees on Advances, net | 273 | 1,497 | 8,127 | 4,330 |
Interest-Bearing Deposits | 87 | 271 | 476 | 745 |
Securities Purchased Under Agreements to Resell | 71 | 1,074 | 954 | 2,534 |
Federal Funds Sold | 380 | 672 | 1,572 | 1,652 |
Available-for-Sale Securities | 6,983 | 10,843 | 23,440 | 31,617 |
Held-to-Maturity Securities | 34,998 | 38,477 | 106,008 | 123,178 |
Mortgage Loans Held for Portfolio, net | 59,763 | 62,615 | 186,186 | 195,733 |
Other, net | 574 | 569 | 1,121 | 1,322 |
Total Interest Income | 133,660 | 158,107 | 421,647 | 492,113 |
Interest Expense: | ' | ' | ' | ' |
Consolidated Obligation Discount Notes | 1,732 | 2,492 | 6,101 | 5,095 |
Consolidated Obligation Bonds | 77,552 | 93,158 | 235,630 | 295,007 |
Deposits | 25 | 20 | 70 | 71 |
Mandatorily Redeemable Capital Stock | 2,225 | 3,355 | 6,713 | 10,592 |
Total Interest Expense | 81,534 | 99,025 | 248,514 | 310,765 |
Net Interest Income | 52,126 | 59,082 | 173,133 | 181,348 |
Provision for (Reversal of) Credit Losses | 314 | 5,634 | -3,451 | 7,917 |
Net Interest Income After Provision for Credit Losses | 51,812 | 53,448 | 176,584 | 173,431 |
Other Income (Loss): | ' | ' | ' | ' |
Total Other-Than-Temporary Impairment Losses | 0 | 0 | 0 | -6 |
Non-Credit Portion Reclassified to (from) Other Comprehensive Income, net | 0 | -14 | -1,924 | -3,588 |
Net Other-Than-Temporary Impairment Losses, credit portion | 0 | -14 | -1,924 | -3,594 |
Net Realized Gains from Sale of Available-for-Sale Securities | 0 | 0 | 17,135 | 0 |
Net Gains (Losses) on Derivatives and Hedging Activities | -125 | -3,056 | 10,671 | -7,443 |
Service Fees | 225 | 236 | 684 | 723 |
Standby Letters of Credit Fees | 119 | 192 | 873 | 680 |
Other, net | 332 | 474 | 1,024 | 979 |
Total Other Income (Loss) | 551 | -2,168 | 28,463 | -8,655 |
Other Expenses: | ' | ' | ' | ' |
Compensation and Benefits | 14,101 | 8,516 | 33,153 | 26,565 |
Other Operating Expenses | 4,520 | 3,893 | 13,002 | 12,022 |
Federal Housing Finance Agency | 550 | 838 | 1,914 | 2,674 |
Office of Finance | 640 | 592 | 2,104 | 1,872 |
Other | 354 | 243 | 925 | 668 |
Total Other Expenses | 20,165 | 14,082 | 51,098 | 43,801 |
Income Before Assessments | 32,198 | 37,198 | 153,949 | 120,975 |
Assessments: | ' | ' | ' | ' |
Affordable Housing Program Assessments | 3,442 | 4,056 | 16,066 | 13,157 |
Net Income | $28,756 | $33,142 | $137,883 | $107,818 |
Statements_of_Comprehensive_In
Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net Income | $28,756 | $33,142 | $137,883 | $107,818 |
Other Comprehensive Income: | ' | ' | ' | ' |
Net Change in Unrealized Gains (Losses) on Available-for-Sale Securities | 2,392 | 3,606 | -9,468 | -1,579 |
Non-Credit Portion of Other-Than-Temporary Impairment Losses on Available-for-Sale Securities: | ' | ' | ' | ' |
Reclassification of Non-Credit Portion to Other Income | 0 | 14 | 1,924 | 3,592 |
Net Change in Fair Value Not in Excess of Cumulative Non-Credit Losses | -84 | 32,311 | 35,095 | 64,096 |
Unrealized Gains (Losses) | 2,474 | 3,301 | 7,615 | 8,055 |
Reclassification of Net Realized Gains From Sale to Other Income | 0 | 0 | -17,135 | 0 |
Net Non-Credit Portion of Other-Than-Temporary Impairment Losses on Available-for-Sale Securities | 2,390 | 35,626 | 27,499 | 75,743 |
Non-Credit Portion of Other-Than-Temporary Impairment Losses on Held-to-Maturity Securities: | ' | ' | ' | ' |
Reclassification of Non-Credit Portion from Other Income | 0 | 0 | 0 | -4 |
Accretion of Non-Credit Portion | 18 | 18 | 55 | 64 |
Net Non-Credit Portion of Other-Than-Temporary Impairment Losses on Held-to-Maturity Securities | 18 | 18 | 55 | 60 |
Pension Benefits | 6,175 | -570 | 6,874 | -1,713 |
Total Other Comprehensive Income | 10,975 | 38,680 | 24,960 | 72,511 |
Total Comprehensive Income | $39,731 | $71,822 | $162,843 | $180,329 |
Statements_of_Capital_Unaudite
Statements of Capital (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | ' | ' | $2,215,842 | $1,947,188 |
Proceeds from Sale of Capital Stock | ' | ' | 145,156 | 56,988 |
Net Shares Reclassified to Mandatorily Redeemable Capital Stock | ' | ' | -95,441 | -3,513 |
Total Comprehensive Income | 39,731 | 71,822 | 162,843 | 180,329 |
Distributions on Mandatorily Redeemable Capital Stock | ' | ' | -137 | -27 |
Cash Dividends on Capital Stock (3.50% and 3.00% annualized, respectively) | ' | ' | -42,756 | -35,201 |
Ending Balance | 2,385,507 | 2,145,764 | 2,385,507 | 2,145,764 |
Capital Stock Class B Putable [Member] | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | ' | ' | 1,634,300 | 1,563,056 |
Beginning Balance, Shares | ' | ' | 16,343 | 15,631 |
Proceeds from Sale of Capital Stock | ' | ' | 145,156 | 56,988 |
Proceeds from Sale of Capital Stock, Shares | ' | ' | 1,451 | 569 |
Net Shares Reclassified to Mandatorily Redeemable Capital Stock | ' | ' | -95,441 | -3,513 |
Net Shares Reclassified to Mandatorily Redeemable Capital Stock, Shares | ' | ' | -954 | -35 |
Ending Balance | 1,684,015 | 1,616,531 | 1,684,015 | 1,616,531 |
Ending Balance, Shares | 16,840 | 16,165 | 16,840 | 16,165 |
Retained Earnings Total [Member] | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | ' | ' | 591,600 | 497,673 |
Total Comprehensive Income | ' | ' | 137,883 | 107,818 |
Distributions on Mandatorily Redeemable Capital Stock | ' | ' | -137 | -27 |
Cash Dividends on Capital Stock (3.50% and 3.00% annualized, respectively) | ' | ' | -42,756 | -35,201 |
Ending Balance | 686,590 | 570,263 | 686,590 | 570,263 |
Retained Earnings, Unrestricted [Member] | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | ' | ' | 549,773 | 484,511 |
Total Comprehensive Income | ' | ' | 110,306 | 86,254 |
Distributions on Mandatorily Redeemable Capital Stock | ' | ' | -137 | -27 |
Cash Dividends on Capital Stock (3.50% and 3.00% annualized, respectively) | ' | ' | -42,756 | -35,201 |
Ending Balance | 617,186 | 535,537 | 617,186 | 535,537 |
Retained Earnings, Restricted [Member] | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | ' | ' | 41,827 | 13,162 |
Total Comprehensive Income | ' | ' | 27,577 | 21,564 |
Distributions on Mandatorily Redeemable Capital Stock | ' | ' | 0 | 0 |
Cash Dividends on Capital Stock (3.50% and 3.00% annualized, respectively) | ' | ' | 0 | 0 |
Ending Balance | 69,404 | 34,726 | 69,404 | 34,726 |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | ' | ' | -10,058 | -113,541 |
Total Comprehensive Income | ' | ' | 24,960 | 72,511 |
Ending Balance | $14,902 | ($41,030) | $14,902 | ($41,030) |
Statements_of_Capital_Unaudite1
Statements of Capital (Unaudited) (Parenthetical) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Statement of Stockholders' Equity [Abstract] | ' | ' |
Annualized Dividend Rate on Capital Stock | 3.50% | 3.00% |
Statements_of_Cash_Flows_Unaud
Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating Activities: | ' | ' |
Net Income | $137,883 | $107,818 |
Adjustments to reconcile Net Income to Net Cash provided by Operating Activities: | ' | ' |
Amortization and Depreciation | 74,755 | 71,124 |
Prepayment Fees on Advances, net of related swap termination fees | -4,335 | -35,497 |
Changes in Net Derivative and Hedging Activities | 33,983 | 64,779 |
Net Other-Than-Temporary Impairment Losses, credit portion | 1,924 | 3,594 |
Provision for (Reversal of) Credit Losses | -3,451 | 7,917 |
Net Realized Gains from Sale of Available-for-Sale Securities | -17,135 | 0 |
Changes in: | ' | ' |
Accrued Interest Receivable (adjusted for capitalized interest) | 5,626 | -1,115 |
Other Assets | 7,526 | 4,384 |
Accrued Interest Payable | 7,088 | -6,273 |
Other Liabilities | 1,141 | 3,932 |
Total Adjustments, net | 107,122 | 112,845 |
Net Cash provided by Operating Activities | 245,005 | 220,663 |
Changes in: | ' | ' |
Interest-Bearing Deposits | 280,168 | -17,635 |
Securities Purchased Under Agreements to Resell | 550,000 | -2,150,000 |
Federal Funds Sold | 1,865,000 | 659,000 |
Purchases of Premises, Software, and Equipment | -7,781 | -9,073 |
Available-for-Sale Securities: | ' | ' |
Proceeds from Maturities of Long-Term | 64,978 | 53,162 |
Proceeds from Sales of Long-Term | 129,471 | 0 |
Purchases of Long-Term | 0 | -1,310,060 |
Held-to-Maturity Securities: | ' | ' |
Proceeds from Maturities of Long-Term | 835,899 | 2,740,889 |
Purchases of Long-Term | -696,238 | -1,144,255 |
Advances: | ' | ' |
Principal Collected | 31,058,385 | 34,329,908 |
Disbursed to Members | -32,041,661 | -34,401,609 |
Mortgage Loans Held for Portfolio: | ' | ' |
Principal Collected | 1,095,371 | 1,108,146 |
Purchases of Loans and Participation Interests | -1,263,177 | -1,006,139 |
Net Cash provided by (used in) Investing Activities | 1,870,415 | -1,147,666 |
Financing Activities: | ' | ' |
Changes in Deposits | -671,842 | 142,535 |
Net Payments on Derivative Contracts with Financing Elements | -54,118 | -62,539 |
Net Proceeds from Issuance of Consolidated Obligations: | ' | ' |
Discount Notes | 52,000,451 | 102,721,071 |
Bonds | 16,351,138 | 18,821,982 |
Payments for Matured and Retired Consolidated Obligations: | ' | ' |
Discount Notes | -53,119,138 | -99,696,868 |
Bonds | -16,024,425 | -21,432,000 |
Other Federal Home Loan Banks: | ' | ' |
Proceeds from Borrowings | 427,000 | 0 |
Payments for Maturities | -427,000 | 0 |
Proceeds from Sale of Capital Stock | 145,156 | 56,988 |
Payments for Redemption/Repurchase of Mandatorily Redeemable Capital Stock | -290,975 | -6,709 |
Cash Dividends Paid on Capital Stock | -42,756 | -35,201 |
Net Cash provided by (used in) Financing Activities | -1,706,509 | 509,259 |
Net Increase (Decrease) in Cash and Due from Banks | 408,911 | -417,744 |
Cash and Due from Banks at Beginning of Period | 105,472 | 512,682 |
Cash and Due from Banks at End of Period | 514,383 | 94,938 |
Supplemental Disclosures: | ' | ' |
Interest Paid | 250,138 | 307,498 |
Affordable Housing Program Payments | 10,654 | 11,455 |
Capitalized Interest on Certain Held-to-Maturity Securities | 6,562 | 14,610 |
Par Value of Net Shares Reclassified to Mandatorily Redeemable Capital Stock | $95,441 | $3,513 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Note 1 - Summary of Significant Accounting Policies | |
Basis of Presentation. The accompanying interim financial statements of the Federal Home Loan Bank of Indianapolis have been prepared in accordance with GAAP for interim financial information and with the instructions provided by the SEC. Accordingly, they do not include all of the information and disclosures required by GAAP for complete financial statements. The interim financial statements presented herein should be read in conjunction with our audited financial statements and notes thereto, which are included in our 2012 Form 10-K. | |
The financial statements contain all adjustments that are, in the opinion of management, necessary for a fair statement of our financial position, results of operations and cash flows for the interim periods presented. All such adjustments were of a normal recurring nature. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full fiscal year or any other interim period. | |
Our significant accounting policies and certain other disclosures are set forth in Note 1 - Summary of Significant Accounting Policies in our 2012 Form 10-K. There have been no material changes to these policies through September 30, 2013, except as noted below. | |
We use certain acronyms and terms throughout these financial statements, which are defined in the Glossary of Terms. Unless the context otherwise requires, the terms "we," "us," and "our" refer to the Federal Home Loan Bank of Indianapolis or its management. | |
Reclassifications. We have reclassified certain amounts from the prior periods to conform to the current period presentation. These reclassifications had no effect on Net Income, Total Comprehensive Income, Total Assets, Total Capital, or Cash Flows. | |
Use of Estimates. The preparation of financial statements in accordance with GAAP requires us to make subjective assumptions and estimates that may affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of income and expense. Actual results could differ significantly from these estimates. | |
Financial Instruments with Legal Right of Offset. We present certain financial instruments, including derivative instruments and securities purchased under agreements to resell, on a net basis when they have a legal right of offset and all other requirements for netting are met (collectively referred to as the netting requirements). For these financial instruments, we have elected to offset our derivative asset and liability positions, as well as cash collateral received or pledged, when we have met the netting requirements. We did not have any offsetting liabilities related to securities purchased under agreements to resell at September 30, 2013 and December 31, 2012. | |
The net exposure for these financial instruments can change daily; therefore, there may be a delay between the time this exposure change is identified and additional collateral is requested, and the time when this collateral is received or pledged. Likewise, there may be a delay for excess collateral to be returned. For derivative instruments that meet the netting requirements, any excess cash collateral received or pledged is recognized as a derivative liability or derivative asset. Additional information regarding these transactions is provided in Note 9 - Derivatives and Hedging Activities. Based on the estimated fair value of the related collateral held, the securities purchased under agreements to resell were fully collateralized for the periods presented. |
Recently_Adopted_and_Issued_Ac
Recently Adopted and Issued Accounting Guidance | 9 Months Ended |
Sep. 30, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Recently Adopted and Issued Accounting Guidance | ' |
Note 2 - Recently Adopted and Issued Accounting Guidance | |
Inclusion of the Fed Funds Effective Swap Rate (or OIS) as a Benchmark Interest Rate for Hedge Accounting Purposes. On July 17, 2013, the FASB amended existing guidance to include the Fed Funds Effective Swap Rate, also referred to as OIS, as a United States benchmark interest rate for hedge accounting purposes. Including OIS as an acceptable United States benchmark interest rate, in addition to United States Treasuries and LIBOR, will provide a more comprehensive spectrum of interest rate resets to use as the designated benchmark interest rate risk component under the hedge accounting guidance. The amendments also remove the restriction on using different benchmark interest rates for similar hedges. The amendments apply to all entities that elect to apply hedge accounting of the benchmark interest rate, and are effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. However, we continue to designate LIBOR as our benchmark interest rate, and therefore, the adoption of this guidance has not had a material effect on our hedging activities. | |
Joint and Several Liability Arrangements. On February 28, 2013, the FASB issued guidance for the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date. This guidance requires an entity to measure these obligations as the sum of (i) the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and (ii) any additional amount the reporting entity expects to pay on behalf of its co-obligors. In addition, this guidance requires an entity to disclose the nature and the amount of the obligation as well as other information about those obligations. This guidance is effective for interim and annual periods beginning on or after December 15, 2013 and should be applied retrospectively to obligations with joint and several liabilities existing at the beginning of an entity's fiscal year of adoption. This guidance will not have any effect on our financial condition, results of operations or cash flows. | |
Presentation of Comprehensive Income. On February 5, 2013, the FASB issued guidance to improve the transparency of reporting classifications out of AOCI. This guidance does not change the current requirements for reporting net income or comprehensive income in financial statements. However, it does require us to provide information about the amounts reclassified out of AOCI by component. In addition, we are required to present, either on the face of the financial statement where net income is presented or in the notes, significant amounts reclassified out of AOCI. These amounts must be presented based on the respective lines of net income if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, we are required to cross-reference to other required disclosures that provide additional detail about these other amounts. This guidance became effective for interim and annual periods beginning on January 1, 2013 and was applied prospectively. The adoption of this guidance resulted in additional financial statement disclosures, but did not have any effect on our financial condition, results of operations or cash flows. See Note 14 - Accumulated Other Comprehensive Income (Loss)for additional disclosures required by this guidance. | |
Disclosures about Offsetting Assets and Liabilities. On December 16, 2011, the FASB issued common disclosure requirements intended to help investors and other financial statement users better assess the effect or potential effect of offsetting arrangements on a company's financial position. This guidance was amended on January 31, 2013 to clarify that its scope includes only certain financial instruments that are either offset on the statement of condition or are subject to an enforceable master netting arrangement or similar agreement. This guidance requires us to disclose both gross and net information about derivative, repurchase and security lending instruments that meet this criteria. This guidance, as amended, became effective for interim and annual periods beginning on January 1, 2013, and was applied retrospectively for all comparative periods presented. The adoption of this guidance resulted in expanded interim and annual financial statement disclosures, but did not have any effect on our financial condition, results of operations or cash flows. See Note 9 - Derivatives and Hedging Activities for additional disclosures required by this guidance. | |
Advisory Bulletin 2012-02. On April 9, 2012, the Finance Agency issued Advisory Bulletin 2012-02, Framework for Adversely Classifying Loans, Other Real Estate Owned, and Other Assets and Listing Assets for Special Mention ("AB-2012-02"). The guidance establishes a standard and uniform methodology for adversely classifying certain assets other than investment securities, and prescribes the timing of asset charge-offs based on these classifications. Such classification methodology and accounting treatment differ from our current methodology and accounting policy. AB-2012-02 states that it was effective upon issuance. However, the Finance Agency issued additional guidance that extended the effective date for classification purposes to January 1, 2014 and the effective date for financial reporting purposes to January 1, 2015. We are in the process of implementing this guidance and evaluating its effect on our financial condition, results of operations and cash flows, but we do not expect it to be material. |
AvailableforSale_Securities
Available-for-Sale Securities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Available-for-sale Securities [Abstract] | ' | ||||||||||||||||||||||||
Available-for-sale Securities | ' | ||||||||||||||||||||||||
Note 3 - Available-for-Sale Securities | |||||||||||||||||||||||||
Major Security Types. The following table presents information on our AFS securities: | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Non-Credit | Unrealized | Unrealized | Estimated | |||||||||||||||||||||
September 30, 2013 | Cost (1) | OTTI | Gains | Losses | Fair Value | ||||||||||||||||||||
GSE and TVA debentures | $ | 3,197,347 | $ | — | $ | 8,646 | $ | (5,779 | ) | $ | 3,200,214 | ||||||||||||||
Private-label RMBS | 470,754 | (242 | ) | 18,057 | — | 488,569 | |||||||||||||||||||
Total AFS securities | $ | 3,668,101 | $ | (242 | ) | $ | 26,703 | $ | (5,779 | ) | $ | 3,688,783 | |||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
GSE and TVA debentures | $ | 3,328,103 | $ | — | $ | 13,007 | $ | (672 | ) | $ | 3,340,438 | ||||||||||||||
Private-label RMBS | 649,826 | (20,126 | ) | 10,442 | — | 640,142 | |||||||||||||||||||
Total AFS securities | $ | 3,977,929 | $ | (20,126 | ) | $ | 23,449 | $ | (672 | ) | $ | 3,980,580 | |||||||||||||
(1) | Amortized cost of AFS securities includes adjustments made to the cost basis of an investment for accretion, amortization, collection of principal, and, if applicable, OTTI recognized in earnings (credit losses) and fair-value hedge accounting adjustments. | ||||||||||||||||||||||||
Premiums and Discounts. At September 30, 2013 and December 31, 2012, the amortized cost of our RMBS classified as AFS securities included OTTI credit losses, OTTI-related accretion adjustments, and unamortized purchase discounts resulting in net discounts of $68,584 and $110,664, respectively. | |||||||||||||||||||||||||
Unrealized Loss Positions. The following table presents impaired AFS securities (i.e., in an unrealized loss position), which are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. | |||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
Estimated | Unrealized | Estimated | Unrealized | Estimated | Unrealized | ||||||||||||||||||||
September 30, 2013 | Fair Value | Losses | Fair Value | Losses | Fair Value | Losses | |||||||||||||||||||
GSE and TVA debentures | $ | 998,420 | $ | (5,779 | ) | $ | — | $ | — | $ | 998,420 | $ | (5,779 | ) | |||||||||||
Private-label RMBS | — | — | 7,719 | (242 | ) | 7,719 | (242 | ) | |||||||||||||||||
Total impaired AFS securities | $ | 998,420 | $ | (5,779 | ) | $ | 7,719 | $ | (242 | ) | $ | 1,006,139 | $ | (6,021 | ) | ||||||||||
December 31, 2012 | |||||||||||||||||||||||||
GSE and TVA debentures | $ | 398,265 | $ | (672 | ) | $ | — | $ | — | $ | 398,265 | $ | (672 | ) | |||||||||||
Private-label RMBS | — | — | 471,359 | (20,126 | ) | 471,359 | (20,126 | ) | |||||||||||||||||
Total impaired AFS securities | $ | 398,265 | $ | (672 | ) | $ | 471,359 | $ | (20,126 | ) | $ | 869,624 | $ | (20,798 | ) | ||||||||||
Redemption Terms. The amortized cost and estimated fair value of non-MBS AFS securities by contractual maturity are presented below. MBS are not presented by contractual maturity because their actual maturities will likely differ from contractual maturities as borrowers have the right to prepay obligations with or without prepayment fees. | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Amortized | Estimated | Amortized | Estimated | ||||||||||||||||||||||
Year of Contractual Maturity | Cost | Fair Value | Cost | Fair Value | |||||||||||||||||||||
Due in one year or less | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Due after one year through five years | 2,040,424 | 2,048,487 | 2,038,791 | 2,048,429 | |||||||||||||||||||||
Due after five years through ten years | 1,123,231 | 1,118,511 | 1,197,884 | 1,200,979 | |||||||||||||||||||||
Due after ten years | 33,692 | 33,216 | 91,428 | 91,030 | |||||||||||||||||||||
Total Non-MBS | 3,197,347 | 3,200,214 | 3,328,103 | 3,340,438 | |||||||||||||||||||||
Total MBS | 470,754 | 488,569 | 649,826 | 640,142 | |||||||||||||||||||||
Total AFS securities | $ | 3,668,101 | $ | 3,688,783 | $ | 3,977,929 | $ | 3,980,580 | |||||||||||||||||
Realized Gains and Losses. The following table presents the proceeds, previously recognized OTTI credit losses including accretion, and gross realized gains and losses related to the sale of six OTTI AFS securities, only one of which was in an unrealized loss position. In the first quarter of 2013, we recorded an OTTI credit charge for this security, representing the entire difference between our amortized cost basis and its estimated fair value, which resulted in no gross realized losses related to the sale. We compute gains and losses on sales of investment securities using the specific identification method. | |||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||
Sales of AFS Securities | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Proceeds from sale | $ | — | $ | — | $ | 129,471 | $ | — | |||||||||||||||||
Previously recognized OTTI credit losses including accretion | $ | — | $ | — | $ | 38,806 | $ | — | |||||||||||||||||
Gross realized gains | $ | — | $ | — | $ | 17,135 | $ | — | |||||||||||||||||
Gross realized losses | — | — | — | — | |||||||||||||||||||||
Net Realized Gains from Sale of Available-for-Sale Securities | $ | — | $ | — | $ | 17,135 | $ | — | |||||||||||||||||
As of September 30, 2013, we had no intention of selling the remaining AFS securities in an unrealized loss position nor did we consider it more likely than not that we will be required to sell these securities before our anticipated recovery of each security's remaining amortized cost basis. |
HeldtoMaturity_Securities
Held-to-Maturity Securities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Held-to-maturity Securities [Abstract] | ' | ||||||||||||||||||||||||
Held-to-Maturity Securities | ' | ||||||||||||||||||||||||
Note 4 - Held-to-Maturity Securities | |||||||||||||||||||||||||
Major Security Types. The following table presents information on our HTM securities: | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Unrecognized | Unrecognized | ||||||||||||||||||||||||
Amortized | Non-Credit | Carrying | Holding | Holding | Estimated | ||||||||||||||||||||
September 30, 2013 | Cost (1) | OTTI | Value (2) | Gains (3) | Losses (3) | Fair Value | |||||||||||||||||||
GSE debentures | $ | 268,998 | $ | — | $ | 268,998 | $ | 663 | $ | — | $ | 269,661 | |||||||||||||
MBS and ABS: | |||||||||||||||||||||||||
Other U.S. obligations -guaranteed RMBS | 3,090,243 | — | 3,090,243 | 53,058 | (11,493 | ) | 3,131,808 | ||||||||||||||||||
GSE RMBS | 3,781,786 | — | 3,781,786 | 81,713 | (4,828 | ) | 3,858,671 | ||||||||||||||||||
Private-label RMBS | 165,093 | — | 165,093 | 488 | (1,802 | ) | 163,779 | ||||||||||||||||||
Manufactured housing loan ABS | 13,410 | — | 13,410 | — | (2,010 | ) | 11,400 | ||||||||||||||||||
Home equity loan ABS | 2,186 | (257 | ) | 1,929 | 105 | (127 | ) | 1,907 | |||||||||||||||||
Total MBS and ABS | 7,052,718 | (257 | ) | 7,052,461 | 135,364 | (20,260 | ) | 7,167,565 | |||||||||||||||||
Total HTM securities | $ | 7,321,716 | $ | (257 | ) | $ | 7,321,459 | $ | 136,027 | $ | (20,260 | ) | $ | 7,437,226 | |||||||||||
December 31, 2012 | |||||||||||||||||||||||||
GSE debentures | $ | 268,996 | $ | — | $ | 268,996 | $ | 357 | $ | — | $ | 269,353 | |||||||||||||
MBS and ABS: | |||||||||||||||||||||||||
Other U.S. obligations -guaranteed RMBS | 3,123,784 | — | 3,123,784 | 84,169 | (1,345 | ) | 3,206,608 | ||||||||||||||||||
GSE RMBS | 3,859,172 | — | 3,859,172 | 155,044 | (76 | ) | 4,014,140 | ||||||||||||||||||
Private-label RMBS | 235,778 | — | 235,778 | 992 | (2,577 | ) | 234,193 | ||||||||||||||||||
Manufactured housing loan ABS | 14,779 | — | 14,779 | — | (2,276 | ) | 12,503 | ||||||||||||||||||
Home equity loan ABS | 2,446 | (312 | ) | 2,134 | 5 | (340 | ) | 1,799 | |||||||||||||||||
Total MBS and ABS | 7,235,959 | (312 | ) | 7,235,647 | 240,210 | (6,614 | ) | 7,469,243 | |||||||||||||||||
Total HTM securities | $ | 7,504,955 | $ | (312 | ) | $ | 7,504,643 | $ | 240,567 | $ | (6,614 | ) | $ | 7,738,596 | |||||||||||
(1) | Amortized cost includes adjustments made to the cost basis of an investment for accretion, amortization, collection of principal, and, if applicable, OTTI recognized in earnings (credit losses). | ||||||||||||||||||||||||
(2) | Carrying value of HTM securities represents amortized cost after adjustment for non-credit OTTI recognized in AOCI. | ||||||||||||||||||||||||
(3) | Gross unrecognized holding gains (losses) represents the difference between estimated fair value and carrying value. | ||||||||||||||||||||||||
Premiums and Discounts. At September 30, 2013 and December 31, 2012, the amortized cost of our MBS and ABS HTM securities included unamortized purchase premiums and discounts, OTTI credit losses, and OTTI-related accretion adjustments resulting in net premiums of $47,662 and $51,784, respectively. | |||||||||||||||||||||||||
Unrealized Loss Positions. The following table presents impaired HTM securities (i.e., in an unrealized loss position), aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. None of our non-MBS were in an unrealized loss position at September 30, 2013 or December 31, 2012. | |||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
Estimated | Unrealized | Estimated | Unrealized | Estimated | Unrealized | ||||||||||||||||||||
September 30, 2013 | Fair Value | Losses | Fair Value | Losses | Fair Value | Losses (1) | |||||||||||||||||||
MBS and ABS: | |||||||||||||||||||||||||
Other U.S. obligations - guaranteed RMBS | $ | 1,415,791 | $ | (7,734 | ) | $ | 435,953 | $ | (3,759 | ) | $ | 1,851,744 | $ | (11,493 | ) | ||||||||||
GSE RMBS | 1,357,575 | (4,805 | ) | 7,590 | (23 | ) | 1,365,165 | (4,828 | ) | ||||||||||||||||
Private-label RMBS | 48,662 | (311 | ) | 64,397 | (1,491 | ) | 113,059 | (1,802 | ) | ||||||||||||||||
Manufactured housing loan ABS | — | — | 11,399 | (2,010 | ) | 11,399 | (2,010 | ) | |||||||||||||||||
Home equity loan ABS | — | — | 1,907 | (279 | ) | 1,907 | (279 | ) | |||||||||||||||||
Total MBS and ABS | 2,822,028 | (12,850 | ) | 521,246 | (7,562 | ) | 3,343,274 | (20,412 | ) | ||||||||||||||||
Total impaired HTM securities | $ | 2,822,028 | $ | (12,850 | ) | $ | 521,246 | $ | (7,562 | ) | $ | 3,343,274 | $ | (20,412 | ) | ||||||||||
December 31, 2012 | |||||||||||||||||||||||||
MBS and ABS: | |||||||||||||||||||||||||
Other U.S. obligations - guaranteed RMBS | $ | 274,784 | $ | (432 | ) | $ | 460,152 | $ | (913 | ) | $ | 734,936 | $ | (1,345 | ) | ||||||||||
GSE RMBS | 124,225 | (76 | ) | — | — | 124,225 | (76 | ) | |||||||||||||||||
Private-label RMBS | 7,258 | (36 | ) | 155,651 | (2,541 | ) | 162,909 | (2,577 | ) | ||||||||||||||||
Manufactured housing loan ABS | — | — | 12,503 | (2,276 | ) | 12,503 | (2,276 | ) | |||||||||||||||||
Home equity loan ABS | — | — | 1,799 | (647 | ) | 1,799 | (647 | ) | |||||||||||||||||
Total MBS and ABS | 406,267 | (544 | ) | 630,105 | (6,377 | ) | 1,036,372 | (6,921 | ) | ||||||||||||||||
Total impaired HTM securities | $ | 406,267 | $ | (544 | ) | $ | 630,105 | $ | (6,377 | ) | $ | 1,036,372 | $ | (6,921 | ) | ||||||||||
(1) | Total unrealized losses on home equity loan ABS will not agree to total gross unrecognized holding losses. Total unrealized losses include non-credit-related OTTI losses recorded in AOCI and gross unrecognized holding gains on previously OTTI securities. | ||||||||||||||||||||||||
Redemption Terms. The amortized cost, carrying value and estimated fair value of non-MBS HTM securities by contractual maturity are presented below. MBS and ABS are not presented by contractual maturity because their actual maturities will likely differ from contractual maturities as certain borrowers have the right to prepay obligations with or without prepayment fees. | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Amortized | Carrying | Estimated | Amortized | Carrying | Estimated | ||||||||||||||||||||
Year of Contractual Maturity | Cost (1) | Value (2) | Fair Value | Cost (1) | Value (2) | Fair Value | |||||||||||||||||||
Non-MBS: | |||||||||||||||||||||||||
Due in one year or less | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Due after one year through five years | 268,998 | 268,998 | 269,661 | 268,996 | 268,996 | 269,353 | |||||||||||||||||||
Due after five years through ten years | — | — | — | — | — | — | |||||||||||||||||||
Due after ten years | — | — | — | — | — | — | |||||||||||||||||||
Total Non-MBS | 268,998 | 268,998 | 269,661 | 268,996 | 268,996 | 269,353 | |||||||||||||||||||
Total MBS and ABS | 7,052,718 | 7,052,461 | 7,167,565 | 7,235,959 | 7,235,647 | 7,469,243 | |||||||||||||||||||
Total HTM securities | $ | 7,321,716 | $ | 7,321,459 | $ | 7,437,226 | $ | 7,504,955 | $ | 7,504,643 | $ | 7,738,596 | |||||||||||||
(1) | Amortized cost includes adjustments made to the cost basis of an investment for accretion, amortization, collection of principal, and, if applicable, OTTI recognized in earnings (credit losses). | ||||||||||||||||||||||||
(2) | Carrying value of HTM securities represents amortized cost after adjustment for non-credit OTTI recognized in AOCI. |
OtherThanTemporary_Impairments
Other-Than-Temporary Impairments Analysis | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Other Than Temporary Impairments Analysis [Abstract] | ' | ||||||||||||||||||||||||||||
Other-Than-Temporary-Impairment Analysis | ' | ||||||||||||||||||||||||||||
Note 5 - Other-Than-Temporary Impairment Analysis | |||||||||||||||||||||||||||||
OTTI Evaluation Process and Results - Private-label RMBS and ABS. On a quarterly basis, we evaluate for OTTI our individual AFS and HTM securities that have been previously OTTI or are in an unrealized loss position. As part of our evaluation, we consider whether we intend to sell each security and whether it is more likely than not that we will be required to sell the security before its anticipated recovery. | |||||||||||||||||||||||||||||
If either of these conditions is met, we recognize an OTTI loss in earnings equal to the entire difference between the debt security's amortized cost and its estimated fair value as of the Statement of Condition date. For the nine months ended September 30, 2013, we recorded an OTTI credit charge of $1,924, representing the entire difference between our amortized cost basis and its estimated fair value, on one security for which we changed our previous intention to hold until recovery of its amortized cost. We did not have any such change in intent during the three months ended September 30, 2013 or the three and nine months ended September 30, 2012. | |||||||||||||||||||||||||||||
For those securities that meet neither of these conditions, we perform a cash flow analysis to determine whether we expect to recover the entire amortized cost of each security as described in Note 6 - Other-Than-Temporary Impairment Analysis of our 2012 Form 10-K. As a result of our analysis, there were no additional OTTI credit losses recognized for the three and nine months ended September 30, 2013 and we recognized additional credit losses of $14 and $3,594 during the three and nine months ended September 30, 2012, respectively. We determined that the unrealized losses on the remaining private-label RMBS and ABS were temporary as we expect to recover the entire amortized cost. | |||||||||||||||||||||||||||||
The following table presents a rollforward of the amounts related to credit losses recognized in earnings. The rollforward excludes accretion of credit losses for securities that have not experienced a significant increase in cash flows. | |||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||
Credit Loss Rollforward | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Balance at beginning of period | $ | 72,287 | $ | 109,214 | $ | 109,169 | $ | 105,636 | |||||||||||||||||||||
Additions: | |||||||||||||||||||||||||||||
Additional credit losses for which OTTI was previously recognized | — | 14 | 1,924 | 3,594 | |||||||||||||||||||||||||
Reductions: | |||||||||||||||||||||||||||||
Credit losses on securities sold, matured, paid down or prepaid | — | — | (30,506 | ) | (2 | ) | |||||||||||||||||||||||
Unamortized life-to-date credit losses on security that we intend to sell before recovery of its amortized cost basis | — | — | (8,300 | ) | — | ||||||||||||||||||||||||
Balance at end of period | $ | 72,287 | $ | 109,228 | $ | 72,287 | $ | 109,228 | |||||||||||||||||||||
The following table presents the September 30, 2013 classification and balances of OTTI securities impaired prior to September 30, 2013 (i.e., life to date) but not necessarily as of September 30, 2013. Securities are classified based on the originator's classification at the time of origination or based on the classification by the NRSROs upon issuance. Because there is no universally accepted definition of prime, Alt-A or subprime underwriting standards, such classifications are subjective. | |||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||
HTM Securities | AFS Securities | ||||||||||||||||||||||||||||
OTTI Life-to-Date | UPB | Amortized Cost | Carrying Value | Estimated Fair Value | UPB | Amortized Cost | Estimated Fair Value | ||||||||||||||||||||||
Private-label RMBS - prime | $ | — | $ | — | $ | — | $ | — | $ | 539,339 | $ | 470,754 | $ | 488,569 | |||||||||||||||
Private-label RMBS - Alt-A | — | — | — | — | — | — | — | ||||||||||||||||||||||
Home equity loan ABS - subprime | 920 | 884 | 627 | 732 | — | — | — | ||||||||||||||||||||||
Total OTTI securities | $ | 920 | $ | 884 | $ | 627 | $ | 732 | $ | 539,339 | $ | 470,754 | $ | 488,569 | |||||||||||||||
OTTI Evaluation Process and Results - All Other AFS and HTM Securities. | |||||||||||||||||||||||||||||
Other U.S. and GSE Obligations and TVA Debentures. For other U.S. obligations, GSE obligations, and TVA debentures, we determined that the strength of the issuers' guarantees through direct obligations of or support from the United States government is sufficient to protect us from any losses based on current expectations. As a result, we have determined that, as of September 30, 2013, all of the gross unrealized losses are temporary. |
Advances
Advances | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Advances [Abstract] | ' | ||||||||||||||||
Advances | ' | ||||||||||||||||
Note 6 - Advances | |||||||||||||||||
We had Advances outstanding, as presented below by year of contractual maturity, with interest rates ranging from 0% to 8.34%. | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Year of Contractual Maturity | Amount | WAIR % | Amount | WAIR % | |||||||||||||
Overdrawn demand and overnight deposit accounts | $ | 17 | 2.5 | $ | 15,004 | 2.5 | |||||||||||
Due in 1 year or less | 4,184,443 | 0.67 | 3,761,551 | 1.57 | |||||||||||||
Due after 1 year through 2 years | 2,019,963 | 2.56 | 1,365,251 | 2.66 | |||||||||||||
Due after 2 years through 3 years | 3,832,451 | 2.4 | 2,287,033 | 3.11 | |||||||||||||
Due after 3 years through 4 years | 2,969,219 | 2.35 | 3,435,097 | 2.61 | |||||||||||||
Due after 4 years through 5 years | 2,027,387 | 2.23 | 2,448,083 | 2.22 | |||||||||||||
Thereafter | 3,332,013 | 2.04 | 4,070,200 | 2.49 | |||||||||||||
Total Advances, par value | 18,365,493 | 1.93 | 17,382,219 | 2.38 | |||||||||||||
Unamortized discounts (including AHP) | (3,220 | ) | (1,284 | ) | |||||||||||||
Hedging adjustments | 323,670 | 577,225 | |||||||||||||||
Unamortized swap termination fees associated with modified Advances | 110,354 | 171,298 | |||||||||||||||
Total Advances | $ | 18,796,297 | $ | 18,129,458 | |||||||||||||
At September 30, 2013 and December 31, 2012, we had $3.7 billion outstanding of Advances that can be prepaid without incurring prepayment or termination fees. All other Advances may only be prepaid by paying a fee (prepayment fee) that is sufficient to make us financially indifferent to the prepayment of the Advance. | |||||||||||||||||
At September 30, 2013 and December 31, 2012, we had putable Advances outstanding totaling $204,000 and $351,500, respectively. We had no convertible Advances outstanding at September 30, 2013 or December 31, 2012. | |||||||||||||||||
The following table presents Advances by the earlier of the year of contractual maturity or the next call date and next put date: | |||||||||||||||||
Year of Contractual Maturity | Year of Contractual Maturity | ||||||||||||||||
or Next Call Date | or Next Put Date | ||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Overdrawn demand and overnight deposit accounts | $ | 17 | $ | 15,004 | $ | 17 | $ | 15,004 | |||||||||
Due in 1 year or less | 6,544,808 | 5,800,961 | 4,382,443 | 4,070,551 | |||||||||||||
Due after 1 year through 2 years | 1,996,713 | 1,348,251 | 2,010,463 | 1,327,251 | |||||||||||||
Due after 2 years through 3 years | 3,896,451 | 2,163,783 | 3,803,451 | 2,250,533 | |||||||||||||
Due after 3 years through 4 years | 2,736,469 | 3,539,097 | 2,879,719 | 3,405,097 | |||||||||||||
Due after 4 years through 5 years | 1,812,387 | 2,310,333 | 1,977,387 | 2,328,583 | |||||||||||||
Thereafter | 1,378,648 | 2,204,790 | 3,312,013 | 3,985,200 | |||||||||||||
Total Advances, par value | $ | 18,365,493 | $ | 17,382,219 | $ | 18,365,493 | $ | 17,382,219 | |||||||||
Prepayment Fees. When a borrower prepays an Advance, future income will be lower if the principal portion of the prepaid Advance is reinvested in lower-yielding assets that continue to be funded by higher-costing debt. To protect against this risk, we generally charge a prepayment fee. Advance prepayment fees, excluding any associated hedging basis adjustments, at the time of the prepayment were $273 and $31,114 for the three and nine months ended September 30, 2013 compared to $5,067 and $12,737 for the three and nine months ended September 30, 2012, respectively. | |||||||||||||||||
In cases in which we fund a new Advance to the pre-paying borrower concurrent with or within a short period of time before or after the prepayment of an existing Advance and the Advance meets the accounting criteria to qualify as a modification of the prepaid Advance, any prepayment fee, net of hedging basis adjustments, is deferred, recorded in the basis of the modified Advance, and amortized using a level-yield methodology over the life of the modified Advance, or as an adjustment to the interest coupon accrual of the modified Advance. For the three and nine months ended September 30, 2013, we deferred $197 and $12,132, respectively, of these gross Advance prepayment fees, compared to $17,973 and $44,864, respectively, for the three and nine months ended September 30, 2012. | |||||||||||||||||
Credit Risk Exposure and Security Terms. At September 30, 2013 and December 31, 2012, we had a total of $8.0 billion and $8.4 billion, respectively, of Advances outstanding, at par, to single borrowers with balances that were greater than or equal to $1.0 billion. These Advances, representing 44% and 48%, respectively, of total Advances at par outstanding on those dates, were made to four and five borrowers, respectively. At September 30, 2013 and December 31, 2012, we held $15.2 billion and $17.9 billion, respectively, of UPB of collateral to cover the Advances to these borrowers. | |||||||||||||||||
See Note 8 - Allowance for Credit Losses for information related to credit risk on Advances and allowance methodology for credit losses. |
Mortgage_Loans_Held_for_Portfo
Mortgage Loans Held for Portfolio | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Mortgage Loans on Real Estate [Abstract] | ' | ||||||||||||
Mortgage Loans Held for Portfolio | ' | ||||||||||||
Note 7 - Mortgage Loans Held for Portfolio | |||||||||||||
The following tables present information on Mortgage Loans Held for Portfolio: | |||||||||||||
September 30, 2013 | |||||||||||||
By Term | MPP | MPF | Total | ||||||||||
Fixed-rate medium-term (1) mortgages | $ | 1,026,871 | $ | 82,947 | $ | 1,109,818 | |||||||
Fixed-rate long-term (2) mortgages | 4,519,256 | 432,299 | 4,951,555 | ||||||||||
Total Mortgage Loans Held for Portfolio, UPB | 5,546,127 | 515,246 | 6,061,373 | ||||||||||
Unamortized premiums | 102,325 | 10,536 | 112,861 | ||||||||||
Unamortized discounts | (12,187 | ) | (114 | ) | (12,301 | ) | |||||||
Hedging adjustments | 3,891 | (677 | ) | 3,214 | |||||||||
Allowance for loan losses | (5,000 | ) | (500 | ) | (5,500 | ) | |||||||
Total Mortgage Loans Held for Portfolio, net | $ | 5,635,156 | $ | 524,491 | $ | 6,159,647 | |||||||
December 31, 2012 | |||||||||||||
By Term | MPP | MPF | Total | ||||||||||
Fixed-rate medium-term (1) mortgages | $ | 960,944 | $ | 41,014 | $ | 1,001,958 | |||||||
Fixed-rate long-term (2) mortgages | 4,735,020 | 189,166 | 4,924,186 | ||||||||||
Total Mortgage Loans Held for Portfolio, UPB | 5,695,964 | 230,180 | 5,926,144 | ||||||||||
Unamortized premiums | 81,459 | 6,323 | 87,782 | ||||||||||
Unamortized discounts | (12,266 | ) | — | (12,266 | ) | ||||||||
Hedging adjustments | 8,859 | 886 | 9,745 | ||||||||||
Allowance for loan losses | (9,850 | ) | (150 | ) | (10,000 | ) | |||||||
Total Mortgage Loans Held for Portfolio, net | $ | 5,764,166 | $ | 237,239 | $ | 6,001,405 | |||||||
(1) | Medium-term is defined as a term of 15 years or less at origination. | ||||||||||||
(2) | Long-term is defined as a term greater than 15 years at origination. | ||||||||||||
September 30, 2013 | |||||||||||||
By Type | MPP | MPF | Total | ||||||||||
Conventional | $ | 4,786,021 | $ | 412,634 | $ | 5,198,655 | |||||||
Government | 760,106 | 102,612 | 862,718 | ||||||||||
Total Mortgage Loans Held for Portfolio, UPB | $ | 5,546,127 | $ | 515,246 | $ | 6,061,373 | |||||||
December 31, 2012 | |||||||||||||
By Type | MPP | MPF | Total | ||||||||||
Conventional | $ | 4,810,269 | $ | 177,204 | $ | 4,987,473 | |||||||
Government | 885,695 | 52,976 | 938,671 | ||||||||||
Total Mortgage Loans Held for Portfolio, UPB | $ | 5,695,964 | $ | 230,180 | $ | 5,926,144 | |||||||
For information related to our credit risk on mortgage loans and allowance for credit losses, see Note 8 - Allowance for Credit Losses. |
Allowance_for_Credit_Losses
Allowance for Credit Losses | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Allowance for Credit Losses [Abstract] | ' | ||||||||||||||||||||||||
Allowance for Credit Losses | ' | ||||||||||||||||||||||||
Note 8 - Allowance for Credit Losses | |||||||||||||||||||||||||
We have established an allowance methodology for each of our portfolio segments: credit products (Advances, letters of credit, and other extensions of credit to members); term securities purchased under agreements to resell; term federal funds sold; government-guaranteed or insured Mortgage Loans Held for Portfolio; and conventional Mortgage Loans Held for Portfolio. A description of the allowance methodologies related to our portfolio segments is disclosed in Note 9 - Allowance for Credit Losses in our 2012 Form 10-K. | |||||||||||||||||||||||||
Credit Products. Using a risk-based approach, we consider the amount and quality of the collateral pledged and the borrower's financial condition to be indicators of credit quality on the borrower's credit products. At September 30, 2013 and December 31, 2012, we had rights to collateral on a member-by-member basis with an estimated value in excess of our outstanding extensions of credit. | |||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012, we did not have any credit products that were past due, on non-accrual status, or considered impaired. | |||||||||||||||||||||||||
Based upon the collateral held as security, our credit extension and collateral policies, our credit analysis and the repayment history on credit products, we have not recorded any allowance for credit losses on credit products. At September 30, 2013 and December 31, 2012, no liability to reflect an allowance for credit losses for off-balance sheet credit exposures was recorded. For additional information about off-balance sheet credit exposure, see Note 18 - Commitments and Contingencies. | |||||||||||||||||||||||||
Mortgage Loans. | |||||||||||||||||||||||||
Credit Enhancements. | |||||||||||||||||||||||||
MPP Credit Enhancements. Our allowance for loan losses considers the credit enhancements associated with conventional mortgage loans under the MPP, which includes the original program and MPP Advantage. Any estimated losses that would be recovered from the credit enhancements are not reserved for as part of our allowance for loan losses. However, as part of the estimate of the recoverable credit enhancements, we evaluate the recovery and collectability related to our PMI/SMI policies. As a result of our evaluation, we reduced our estimates of recovery associated with the expected amount of our claims for all providers of these policies and established an allowance for unrecoverable PMI/SMI at September 30, 2013 and December 31, 2012 of $1,685 and $6,067, respectively, as a component of the allowance for MPP loan losses. This decrease in the allowance for unrecoverable PMI/SMI substantially comprised the reduction in our allowance for credit losses from December 31, 2012 to September 30, 2013. | |||||||||||||||||||||||||
The credit enhancements are applied to the estimated losses after any remaining borrower's equity in the following order: any applicable PMI up to coverage limits, any available funds remaining in the LRA up to each master commitment contract's allocated share, and any SMI coverage (not applicable to the MPP Advantage) up to the policy limits. Since we would bear any remaining loss, an estimate of the remaining loss is included in our allowance for loan losses. | |||||||||||||||||||||||||
The following table presents the impact of credit enhancements on the allowance: | |||||||||||||||||||||||||
MPP Credit Waterfall | September 30, | December 31, | |||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Estimated losses remaining after borrower's equity, before credit enhancements | $ | 35,963 | $ | 51,465 | |||||||||||||||||||||
Portion of estimated losses recoverable from PMI | (4,977 | ) | (6,494 | ) | |||||||||||||||||||||
Portion of estimated losses recoverable from LRA | (5,216 | ) | (7,750 | ) | |||||||||||||||||||||
Portion of estimated losses recoverable from SMI | (22,455 | ) | (33,438 | ) | |||||||||||||||||||||
Allowance for unrecoverable PMI/SMI | 1,685 | 6,067 | |||||||||||||||||||||||
Allowance for MPP loan losses | $ | 5,000 | $ | 9,850 | |||||||||||||||||||||
The following table presents the activity in the LRA: | |||||||||||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||||||||||
LRA Activity | 2013 | 2012 | |||||||||||||||||||||||
Balance of LRA, beginning of period | $ | 33,693 | $ | 23,408 | |||||||||||||||||||||
Additions | 12,555 | 13,017 | |||||||||||||||||||||||
Claims paid | (2,422 | ) | (6,165 | ) | |||||||||||||||||||||
Distributions | (761 | ) | (634 | ) | |||||||||||||||||||||
Balance of LRA, end of period | $ | 43,065 | $ | 29,626 | |||||||||||||||||||||
MPF Credit Enhancements. The following table presents the activity related to MPF Credit Enhancements: | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
MPF CE Fees | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Gross CE Fees paid to PFIs | $ | 90 | $ | 1 | $ | 207 | $ | 1 | |||||||||||||||||
Performance-based CE Fees recovered from PFIs | — | — | — | — | |||||||||||||||||||||
Net CE Fees paid | $ | 90 | $ | 1 | $ | 207 | $ | 1 | |||||||||||||||||
If losses occur in a master commitment, these losses will either be: (i) recovered through the withholding of future performance-based CE Fees from the PFI or (ii) absorbed by us in the FLA. As of September 30, 2013 and December 31, 2012, our exposure under the FLA was $3,104 and $1,157, respectively, with CE Obligations available to cover losses in excess of the FLA totaling $24,429 and $8,607, respectively. Any estimated losses that would be absorbed by the CE Obligation are not reserved for as part of our allowance for loan losses. Accordingly, the calculated allowance was reduced by $153 and $67 as of September 30, 2013 and December 31, 2012, respectively, for the amount in excess of the FLA to be covered by PFIs’ CE Obligations. The resulting allowance for MPF loan losses at September 30, 2013 and December 31, 2012 was $500 and $150, respectively. | |||||||||||||||||||||||||
Allowance for Loan Losses on Mortgage Loans. The tables below present a rollforward of our allowance for loan losses on mortgage loans, the allowance for loan losses by impairment methodology, and the recorded investment in mortgage loans by impairment methodology. The recorded investment in a loan is the UPB of the loan, adjusted for accrued interest, net of deferred loan fees or costs, unamortized premiums or discounts (which may include the basis adjustment related to any gain or loss on a delivery commitment prior to being funded) and direct write-downs. The recorded investment is not net of any valuation allowance. | |||||||||||||||||||||||||
MPP | MPF | ||||||||||||||||||||||||
Rollforward of Allowance | Conventional | Conventional | Total | ||||||||||||||||||||||
Allowance for loan losses on mortgage loans, June 30, 2013 | $ | 5,000 | $ | 500 | $ | 5,500 | |||||||||||||||||||
Charge-offs | (314 | ) | — | (314 | ) | ||||||||||||||||||||
Provision for (Reversal of) loan losses | 314 | — | 314 | ||||||||||||||||||||||
Allowance for loan losses on mortgage loans, September 30, 2013 | $ | 5,000 | $ | 500 | $ | 5,500 | |||||||||||||||||||
Allowance for loan losses on mortgage loans, December 31, 2012 | $ | 9,850 | $ | 150 | $ | 10,000 | |||||||||||||||||||
Charge-offs | (1,049 | ) | — | (1,049 | ) | ||||||||||||||||||||
Provision for (Reversal of) for loan losses | (3,801 | ) | 350 | (3,451 | ) | ||||||||||||||||||||
Allowance for loan losses on mortgage loans, September 30, 2013 | $ | 5,000 | $ | 500 | $ | 5,500 | |||||||||||||||||||
Allowance for loan losses on mortgage loans, June 30, 2012 | $ | 5,000 | $ | — | $ | 5,000 | |||||||||||||||||||
Charge-offs | (634 | ) | — | (634 | ) | ||||||||||||||||||||
Provision for (Reversal of) loan losses | 5,609 | 25 | 5,634 | ||||||||||||||||||||||
Allowance for loan losses on mortgage loans, September 30, 2012 | $ | 9,975 | $ | 25 | $ | 10,000 | |||||||||||||||||||
Allowance for loan losses on mortgage loans, December 31, 2011 | $ | 3,300 | $ | — | $ | 3,300 | |||||||||||||||||||
Charge-offs | (1,217 | ) | — | (1,217 | ) | ||||||||||||||||||||
Provision for (Reversal of) for loan losses | 7,892 | 25 | 7,917 | ||||||||||||||||||||||
Allowance for loan losses on mortgage loans, September 30, 2012 | $ | 9,975 | $ | 25 | $ | 10,000 | |||||||||||||||||||
MPP | MPF | ||||||||||||||||||||||||
Allowance for Loan Losses, September 30, 2013 | Conventional | Conventional | Total | ||||||||||||||||||||||
Loans collectively evaluated for impairment | $ | 4,252 | $ | 500 | $ | 4,752 | |||||||||||||||||||
Loans individually evaluated for impairment (1) | 748 | — | 748 | ||||||||||||||||||||||
Total allowance for loan losses | $ | 5,000 | $ | 500 | $ | 5,500 | |||||||||||||||||||
Allowance for Loan Losses, December 31, 2012 | |||||||||||||||||||||||||
Loans collectively evaluated for impairment | $ | 8,814 | $ | 150 | $ | 8,964 | |||||||||||||||||||
Loans individually evaluated for impairment (1) | 1,036 | — | 1,036 | ||||||||||||||||||||||
Total allowance for loan losses | $ | 9,850 | $ | 150 | $ | 10,000 | |||||||||||||||||||
Recorded Investment, September 30, 2013 | |||||||||||||||||||||||||
Loans collectively evaluated for impairment | $ | 4,860,122 | $ | 422,681 | $ | 5,282,803 | |||||||||||||||||||
Loans individually evaluated for impairment (1) | 18,530 | — | 18,530 | ||||||||||||||||||||||
Total recorded investment | $ | 4,878,652 | $ | 422,681 | $ | 5,301,333 | |||||||||||||||||||
Recorded Investment, December 31, 2012 | |||||||||||||||||||||||||
Loans collectively evaluated for impairment | $ | 4,871,579 | $ | 183,399 | $ | 5,054,978 | |||||||||||||||||||
Loans individually evaluated for impairment (1) | 16,817 | — | 16,817 | ||||||||||||||||||||||
Total recorded investment | $ | 4,888,396 | $ | 183,399 | $ | 5,071,795 | |||||||||||||||||||
(1) | The recorded investment in our MPP conventional loans individually evaluated for impairment excludes potential claims by servicers as of September 30, 2013 and December 31, 2012 for any losses resulting from past or future liquidations of the underlying properties on $11,195 and $15,665, respectively, of principal that was previously paid in full by the servicers. However, the MPP conventional loan allowance for loan losses includes $690 and $968 for these potential claims as of September 30, 2013 and December 31, 2012, respectively. | ||||||||||||||||||||||||
Credit Quality Indicators. The tables below present our key credit quality indicators for mortgage loans at September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||
MPP | MPF | ||||||||||||||||||||||||
Mortgage Loans Held for Portfolio as of September 30, 2013 | Conventional | FHA | Conventional | Government | Total | ||||||||||||||||||||
Past due 30-59 days | $ | 57,900 | $ | 27,876 | $ | 229 | $ | 832 | $ | 86,837 | |||||||||||||||
Past due 60-89 days | 17,743 | 8,873 | — | 166 | 26,782 | ||||||||||||||||||||
Past due 90 days or more | 85,766 | 3,502 | 129 | 253 | 89,650 | ||||||||||||||||||||
Total past due | 161,409 | 40,251 | 358 | 1,251 | 203,269 | ||||||||||||||||||||
Total current | 4,717,243 | 742,455 | 422,323 | 103,301 | 5,985,322 | ||||||||||||||||||||
Total mortgage loans, recorded investment | 4,878,652 | 782,706 | 422,681 | 104,552 | 6,188,591 | ||||||||||||||||||||
Net unamortized premiums | (71,190 | ) | (18,948 | ) | (8,930 | ) | (1,492 | ) | (100,560 | ) | |||||||||||||||
Hedging adjustments | (3,101 | ) | (791 | ) | 713 | (35 | ) | (3,214 | ) | ||||||||||||||||
Accrued interest receivable | (18,340 | ) | (2,861 | ) | (1,830 | ) | (413 | ) | (23,444 | ) | |||||||||||||||
Total Mortgage Loans Held for Portfolio, UPB | $ | 4,786,021 | $ | 760,106 | $ | 412,634 | $ | 102,612 | $ | 6,061,373 | |||||||||||||||
Other Delinquency Statistics as of September 30, 2013 | |||||||||||||||||||||||||
In process of foreclosure, included above (1) | $ | 52,541 | $ | — | $ | — | $ | — | $ | 52,541 | |||||||||||||||
Serious delinquency rate (2) | 1.76 | % | 0.45 | % | 0.03 | % | 0.24 | % | 1.45 | % | |||||||||||||||
Past due 90 days or more still accruing interest (3) | $ | 85,363 | $ | 3,502 | $ | — | $ | 253 | $ | 89,118 | |||||||||||||||
On non-accrual status | 1,355 | — | 129 | — | 1,484 | ||||||||||||||||||||
MPP | MPF | ||||||||||||||||||||||||
Mortgage Loans Held for Portfolio as of December 31, 2012 | Conventional | FHA | Conventional | Government | Total | ||||||||||||||||||||
Past due 30-59 days | $ | 63,797 | $ | 36,522 | $ | 293 | $ | 78 | $ | 100,690 | |||||||||||||||
Past due 60-89 days | 25,050 | 8,761 | — | 36 | 33,847 | ||||||||||||||||||||
Past due 90 days or more | 104,984 | 3,440 | 1 | — | 108,425 | ||||||||||||||||||||
Total past due | 193,831 | 48,723 | 294 | 114 | 242,962 | ||||||||||||||||||||
Total current | 4,694,565 | 859,236 | 183,105 | 54,649 | 5,791,555 | ||||||||||||||||||||
Total mortgage loans, recorded investment | 4,888,396 | 907,959 | 183,399 | 54,763 | 6,034,517 | ||||||||||||||||||||
Net unamortized premiums | (51,202 | ) | (17,990 | ) | (4,790 | ) | (1,534 | ) | (75,516 | ) | |||||||||||||||
Hedging adjustments | (7,958 | ) | (901 | ) | (819 | ) | (67 | ) | (9,745 | ) | |||||||||||||||
Accrued interest receivable | (18,967 | ) | (3,373 | ) | (586 | ) | (186 | ) | (23,112 | ) | |||||||||||||||
Total Mortgage Loans Held for Portfolio, UPB | $ | 4,810,269 | $ | 885,695 | $ | 177,204 | $ | 52,976 | $ | 5,926,144 | |||||||||||||||
Other Delinquency Statistics as of December 31, 2012 | |||||||||||||||||||||||||
In process of foreclosure, included above (1) | $ | 75,317 | $ | — | $ | — | $ | — | $ | 75,317 | |||||||||||||||
Serious delinquency rate (2) | 2.15 | % | 0.38 | % | — | % | — | % | 1.8 | % | |||||||||||||||
Past due 90 days or more still accruing interest (3) | $ | 104,805 | $ | 3,440 | $ | 1 | $ | — | $ | 108,246 | |||||||||||||||
On non-accrual status | 1,816 | — | — | — | 1,816 | ||||||||||||||||||||
(1) | Includes loans for which the decision of foreclosure or similar alternative, such as pursuit of deed-in-lieu of foreclosure, has been reported. Loans in process of foreclosure are included in past due categories depending on their delinquency status. | ||||||||||||||||||||||||
(2) | Represents loans 90 days or more past due (including loans in process of foreclosure) expressed as a percentage of the total recorded investment in mortgage loans. The percentage excludes principal amounts that were previously paid in full by the servicers on conventional loans that are pending resolution of potential loss claims. Many FHA loans are repurchased by the servicers when they reach 90 days or more delinquent status, similar to the rules for servicers of Ginnie Mae MBS, resulting in the lower serious delinquency rate for FHA loans. | ||||||||||||||||||||||||
(3) | Although our past due scheduled/scheduled MPP loans are classified as loans past due 90 days or more based on the mortgagor's payment status, we do not consider these loans to be non-accrual. | ||||||||||||||||||||||||
Troubled Debt Restructurings. The table below presents the recorded investment of the performing and non-performing troubled debt restructurings. | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Recorded Investment | Performing | Non-Performing (1) | Total | Performing | Non-Performing (1) | Total | |||||||||||||||||||
MPP conventional loans | $ | 17,389 | $ | 1,141 | $ | 18,530 | $ | 15,001 | $ | 1,816 | $ | 16,817 | |||||||||||||
(1) | Represents loans on non-accrual status only. | ||||||||||||||||||||||||
The tables below present the financial effect of the troubled debt restructurings for the three and nine months ended September 30, 2013 and 2012. The pre- and post-modification amounts represent the amount of recorded investment as of the date the loans were modified. | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||
Troubled Debt Restructurings at Modification Date | Pre-Modification | Post-Modification (1) | Pre-Modification | Post-Modification (1) | |||||||||||||||||||||
MPP conventional loans | $ | 767 | $ | 802 | $ | 4,060 | $ | 4,306 | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2012 | September 30, 2012 | ||||||||||||||||||||||||
Troubled Debt Restructurings at Modification Date | Pre-Modification | Post-Modification (1) | Pre-Modification | Post-Modification (1) | |||||||||||||||||||||
MPP conventional loans | $ | 2,163 | $ | 2,325 | $ | 11,931 | $ | 12,843 | |||||||||||||||||
(1) | Includes the capitalization of interest previously received under scheduled/scheduled payment terms. | ||||||||||||||||||||||||
During the three and nine months ended September 30, 2013 and 2012, certain conventional MPP loans classified as troubled debt restructurings within the previous 12 months experienced a payment default. A borrower is considered to have defaulted on a troubled debt restructuring if the borrower's contractually due principal or interest is 60 days or more past due at any time during the period presented. The recorded investment of certain conventional MPP loans classified as troubled debt restructurings within the previous 12 months that experienced a payment default was $366 and $911 for the three and nine months ended September 30, 2013, respectively, compared to $1,013 and $3,751 for the three and nine months ended September 30, 2012, respectively. For purposes of this disclosure, only the initial default was included; however, a loan can experience another payment default in a subsequent period. | |||||||||||||||||||||||||
A loan considered to be a troubled debt restructuring is individually evaluated for impairment when determining its related allowance for loan loss. The tables below present the impaired conventional loans individually evaluated for impairment as of September 30, 2013 and December 31, 2012. The first table presents the recorded investment, UPB and related allowance associated with these loans while the next tables present the average recorded investment of individually impaired loans and related interest income recognized. | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Individually Evaluated Impaired Loans | Recorded Investment | UPB | Related Allowance for Loan Losses | Recorded Investment | UPB | Related Allowance for Loan Losses | |||||||||||||||||||
MPP conventional loans without allowance for loan losses | $ | 17,389 | $ | 17,222 | $ | — | $ | 15,001 | $ | 14,892 | $ | — | |||||||||||||
MPP conventional loans with allowance for loan losses | 1,141 | 1,116 | 58 | 1,816 | 1,783 | 68 | |||||||||||||||||||
Total | $ | 18,530 | $ | 18,338 | $ | 58 | $ | 16,817 | $ | 16,675 | $ | 68 | |||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||
Individually Evaluated Impaired Loans | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||
MPP conventional loans without allowance for loan losses | $ | 17,447 | $ | 253 | $ | 16,396 | $ | 708 | |||||||||||||||||
MPP conventional loans with allowance for loan losses | 1,143 | 17 | 1,142 | 82 | |||||||||||||||||||||
Total | $ | 18,590 | $ | 270 | $ | 17,538 | $ | 790 | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2012 | September 30, 2012 | ||||||||||||||||||||||||
Individually Evaluated Impaired Loans | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||
MPP conventional loans without allowance for loan losses | $ | 11,438 | $ | 182 | $ | 6,975 | $ | 377 | |||||||||||||||||
MPP conventional loans with allowance for loan losses | 2,404 | 35 | 1,519 | 79 | |||||||||||||||||||||
Total | $ | 13,842 | $ | 217 | $ | 8,494 | $ | 456 | |||||||||||||||||
Derivative_and_Hedging_Activit
Derivative and Hedging Activities | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||
Derivative Instruments and Hedging Activities | ' | |||||||||||||||||
Note 9 - Derivatives and Hedging Activities | ||||||||||||||||||
Financial Statement Effect and Additional Financial Information. The following table presents the notional amount and estimated fair value of derivative instruments. Over-the-counter derivative transactions may be either executed with a counterparty (bilateral derivatives) or cleared through a Futures Commission Merchant (i.e., clearing agent) with a Clearinghouse (cleared derivatives). Once a derivative transaction has been accepted for clearing by a Clearinghouse, the derivative transaction is novated and the executing counterparty is replaced with the Clearinghouse. The Clearinghouse notifies the clearing agent of the required initial and variation margin, and the clearing agent notifies us of the required initial and variation margin. For purposes of this disclosure, the derivative values include the related accrued interest. | ||||||||||||||||||
Notional Amount of Derivatives | Estimated Fair Value of | Estimated Fair Value of | ||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||||
September 30, 2013 | ||||||||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||||||
Interest-rate swaps (1) | $ | 31,866,210 | $ | 112,380 | $ | 688,543 | ||||||||||||
Total derivatives designated as hedging instruments | 31,866,210 | 112,380 | 688,543 | |||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||
Interest-rate swaps | 1,859,743 | 792 | 339 | |||||||||||||||
Interest-rate caps/floors | 340,500 | 1,194 | — | |||||||||||||||
Interest-rate futures/forwards | 104,300 | — | 2,479 | |||||||||||||||
MDCs | 101,983 | 1,247 | — | |||||||||||||||
Total derivatives not designated as hedging instruments | 2,406,526 | 3,233 | 2,818 | |||||||||||||||
Total derivatives before adjustments | $ | 34,272,736 | 115,613 | 691,361 | ||||||||||||||
Netting adjustments | (114,366 | ) | (114,366 | ) | ||||||||||||||
Cash collateral and related accrued interest | 6,408 | (389,761 | ) | |||||||||||||||
Total adjustments (2) | (107,958 | ) | (504,127 | ) | ||||||||||||||
Total derivatives, net | $ | 7,655 | $ | 187,234 | ||||||||||||||
December 31, 2012 | ||||||||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||||||
Interest-rate swaps | $ | 32,158,474 | $ | 71,297 | $ | 951,216 | ||||||||||||
Total derivatives designated as hedging instruments | 32,158,474 | 71,297 | 951,216 | |||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||
Interest-rate swaps | 1,214,179 | 757 | 233 | |||||||||||||||
Interest-rate caps/floors | 340,500 | 1,005 | — | |||||||||||||||
Interest-rate futures/forwards | 156,700 | 230 | 43 | |||||||||||||||
MDCs | 157,475 | 289 | 29 | |||||||||||||||
Total derivatives not designated as hedging instruments | 1,868,854 | 2,281 | 305 | |||||||||||||||
Total derivatives before adjustments | $ | 34,027,328 | 73,578 | 951,521 | ||||||||||||||
Netting adjustments | (72,757 | ) | (72,757 | ) | ||||||||||||||
Cash collateral and related accrued interest | — | (677,649 | ) | |||||||||||||||
Total adjustments (2) | (72,757 | ) | (750,406 | ) | ||||||||||||||
Total derivatives, net | $ | 821 | $ | 201,115 | ||||||||||||||
(1) | Includes all cleared derivatives. | |||||||||||||||||
(2) | Amounts represent the application of the netting requirements that allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparty. | |||||||||||||||||
We record derivative instruments, related cash collateral, including initial and variation margin, received or pledged and associated accrued interest, on a net basis by clearing agent and/or by counterparty when we have met the netting requirements. The following table presents separately the estimated fair value of derivative instruments meeting or not meeting netting requirements, including the related collateral received from or pledged to counterparties. | ||||||||||||||||||
30-Sep-13 | Estimated Fair Value of Derivative Assets | Estimated Fair Value of Derivative Liabilities | ||||||||||||||||
Derivative instruments meeting netting requirements: | ||||||||||||||||||
Gross recognized amount | ||||||||||||||||||
Bilateral derivatives | $ | 113,128 | $ | 686,087 | ||||||||||||||
Cleared derivatives | 1,238 | 2,795 | ||||||||||||||||
Total gross recognized amount | 114,366 | 688,882 | ||||||||||||||||
Gross amounts of netting adjustments and cash collateral | ||||||||||||||||||
Bilateral derivatives | (113,128 | ) | (501,332 | ) | ||||||||||||||
Cleared derivatives | 5,170 | (2,795 | ) | |||||||||||||||
Total gross amounts of netting adjustments and cash collateral | (107,958 | ) | (504,127 | ) | ||||||||||||||
Net amounts after netting adjustments and cash collateral | ||||||||||||||||||
Bilateral derivatives | — | 184,755 | ||||||||||||||||
Cleared derivatives | 6,408 | — | ||||||||||||||||
Total net amounts after netting adjustments and cash collateral | 6,408 | 184,755 | ||||||||||||||||
Derivative instruments not meeting netting requirements (1) | 1,247 | 2,479 | ||||||||||||||||
Total derivatives | $ | 7,655 | $ | 187,234 | ||||||||||||||
31-Dec-12 | Estimated Fair Value of Derivative Assets | Estimated Fair Value of Derivative Liabilities | ||||||||||||||||
Derivative instruments meeting netting requirements: | ||||||||||||||||||
Gross recognized amount | $ | 73,059 | $ | 951,449 | ||||||||||||||
Gross amounts of netting adjustments and cash collateral | (72,757 | ) | (750,406 | ) | ||||||||||||||
Net amounts after netting adjustments and cash collateral | 302 | 201,043 | ||||||||||||||||
Derivative instruments not meeting netting requirements (1) | 519 | 72 | ||||||||||||||||
Total derivatives | $ | 821 | $ | 201,115 | ||||||||||||||
(1) | Includes MDCs and certain interest-rate futures or forwards. | |||||||||||||||||
The following table presents the components of Net Gains (Losses) on Derivatives and Hedging Activities reported in Other Income (Loss): | ||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||
Type of Hedge | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net gain (loss) related to fair-value hedge ineffectiveness: | ||||||||||||||||||
Interest-rate swaps | $ | (1,353 | ) | $ | (1,973 | ) | $ | 8,596 | $ | (2,425 | ) | |||||||
Total net gain (loss) related to fair-value hedge ineffectiveness | (1,353 | ) | (1,973 | ) | 8,596 | (2,425 | ) | |||||||||||
Net gain (loss) on derivatives not designated as hedging instruments: | ||||||||||||||||||
Economic hedges: | ||||||||||||||||||
Interest-rate swaps | 62 | 91 | 5,002 | 294 | ||||||||||||||
Interest-rate caps/floors | (405 | ) | (301 | ) | 189 | (1,577 | ) | |||||||||||
Interest-rate futures/forwards | 334 | (6,054 | ) | 6,119 | (10,602 | ) | ||||||||||||
Net interest settlements | 194 | (41 | ) | (4,063 | ) | (47 | ) | |||||||||||
MDCs | 1,043 | 5,222 | (5,172 | ) | 6,914 | |||||||||||||
Total net gain (loss) on derivatives not designated as hedging instruments | 1,228 | (1,083 | ) | 2,075 | (5,018 | ) | ||||||||||||
Net Gains (Losses) on Derivatives and Hedging Activities | $ | (125 | ) | $ | (3,056 | ) | $ | 10,671 | $ | (7,443 | ) | |||||||
The following table presents, by type of hedged item, the gains (losses) on derivatives and the related hedged items in fair-value hedging relationships and the effect of those derivatives on Net Interest Income: | ||||||||||||||||||
Gain (Loss) | Gain (Loss) | Net Fair- | Effect on | |||||||||||||||
on | on Hedged | Value Hedge | Net Interest | |||||||||||||||
Three Months Ended September 30, 2013 | Derivative | Item | Ineffectiveness | Income (1) | ||||||||||||||
Advances | $ | (8,893 | ) | $ | 7,160 | $ | (1,733 | ) | $ | (50,849 | ) | |||||||
AFS securities | 3,694 | (3,524 | ) | 170 | (21,524 | ) | ||||||||||||
CO Bonds | 15,723 | (15,513 | ) | 210 | 21,904 | |||||||||||||
Total | $ | 10,524 | $ | (11,877 | ) | $ | (1,353 | ) | $ | (50,469 | ) | |||||||
Three Months Ended September 30, 2012 | ||||||||||||||||||
Advances | $ | (18,727 | ) | $ | 17,638 | $ | (1,089 | ) | $ | (58,171 | ) | |||||||
AFS securities | (15,789 | ) | 16,087 | 298 | (20,157 | ) | ||||||||||||
CO Bonds | 7,182 | (8,364 | ) | (1,182 | ) | 12,570 | ||||||||||||
Total | $ | (27,334 | ) | $ | 25,361 | $ | (1,973 | ) | $ | (65,758 | ) | |||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||
Advances | $ | 197,316 | $ | (194,821 | ) | $ | 2,495 | $ | (160,667 | ) | ||||||||
AFS securities | 124,730 | (122,879 | ) | 1,851 | (64,457 | ) | ||||||||||||
CO Bonds | (97,336 | ) | 101,586 | 4,250 | 67,238 | |||||||||||||
Total | $ | 224,710 | $ | (216,114 | ) | $ | 8,596 | $ | (157,886 | ) | ||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||
Advances | $ | (50,374 | ) | $ | 48,256 | $ | (2,118 | ) | $ | (178,514 | ) | |||||||
AFS securities | (36,273 | ) | 37,519 | 1,246 | (55,995 | ) | ||||||||||||
CO Bonds | 19,118 | (20,671 | ) | (1,553 | ) | 42,397 | ||||||||||||
Total | $ | (67,529 | ) | $ | 65,104 | $ | (2,425 | ) | $ | (192,112 | ) | |||||||
(1) | The net interest on derivatives in fair-value hedging relationships is recorded in the Interest Income / Interest Expense line item of the respective hedged item, which results in fully offsetting amounts, except to the extent of any hedge ineffectiveness. | |||||||||||||||||
Managing Credit Risk on Derivatives. We are subject to credit risk due to the risk of nonperformance by the counterparties to our derivative transactions. We manage counterparty credit risk through credit analysis, collateral requirements and adherence to the requirements set forth in our policies, United States Commodity Futures Trading Commission regulations, and Finance Agency regulations. | ||||||||||||||||||
For bilateral derivatives, the degree of credit risk depends on the extent to which master netting arrangements are included in such contracts to mitigate the risk. We require collateral agreements with collateral delivery thresholds on the majority of our bilateral derivatives. Additionally, collateral related to derivatives with member institutions includes collateral assigned to us, as evidenced by a written security agreement and held by the member institution for our benefit. | ||||||||||||||||||
For cleared derivatives, the Clearinghouse is our counterparty and, therefore, our credit risk exposure is with a central counterparty rather than individual counterparties. Collateral is required to be posted daily for changes in the value of cleared derivatives to mitigate each counterparty's credit risk. The additional requirement that we post initial and variation margin through the clearing agent, for the benefit of the Clearinghouse, exposes us to institutional credit risk in the event that the clearing agent or Clearinghouse fails to meet its obligations. We have analyzed the enforceability of offsetting rights incorporated in our cleared derivative transactions and determined that the exercise of those offsetting rights by a non-defaulting party under these transactions should be upheld under applicable law upon an event of default including bankruptcy, insolvency or similar proceeding involving the Clearinghouse or our clearing agent, or both. Based on this analysis, we present a net derivative receivable or payable for all transactions through a particular clearing agent with a particular Clearinghouse. | ||||||||||||||||||
See Note 17 - Estimated Fair Values for discussion regarding our fair value methodology for derivative assets and liabilities, including an evaluation of the potential for the estimated fair value of these instruments to be affected by counterparty credit risk. | ||||||||||||||||||
We have credit support agreements for our bilateral derivatives that contain provisions requiring us to post additional collateral with our counterparties if there is deterioration in our credit rating. If our credit rating is lowered by an NRSRO, we could be required to deliver additional collateral on bilateral derivative instruments in net liability positions. The aggregate estimated fair value of all bilateral derivative instruments with credit-risk-related contingent features that were in a net liability position (before cash collateral and related accrued interest on cash collateral) at September 30, 2013 was $572,958 for which we have posted collateral, including accrued interest, with an estimated fair value of $389,004 in the normal course of business. In addition, we held other derivative instruments in a net liability position of $2,479 that are not subject to credit support agreements containing credit-risk related contingent features. If our credit rating had been lowered by an NRSRO (from an S&P equivalent of AA+ to AA), we could have been required to deliver up to an additional $41,304 of collateral (at estimated fair value) to our derivative counterparties at September 30, 2013. |
Deposits
Deposits | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Deposits [Abstract] | ' | ||||||||
Deposits | ' | ||||||||
Note 10 - Deposits | |||||||||
The following table presents Interest-Bearing and Non-Interest-Bearing Deposits: | |||||||||
Type of Deposits | September 30, | December 31, | |||||||
2013 | 2012 | ||||||||
Interest-Bearing: | |||||||||
Demand and overnight | $ | 834,605 | $ | 704,216 | |||||
Time | 3,000 | 2,250 | |||||||
Other | 22 | 22 | |||||||
Total Interest-Bearing | 837,627 | 706,488 | |||||||
Non-Interest-Bearing: | |||||||||
Demand (1) | 254,601 | 1,066,041 | |||||||
Other (2) | 22,281 | 14,622 | |||||||
Total Non-Interest Bearing | 276,882 | 1,080,663 | |||||||
Total Deposits | $ | 1,114,509 | $ | 1,787,151 | |||||
(1) | Represents principal and interest custodial accounts transferred to our Bank by a member for GSE remittance payments. | ||||||||
(2) | Includes pass-through deposit reserves from members. |
Consolidated_Obligations
Consolidated Obligations | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||
Consolidated Obligations | ' | ||||||||||||||
Note 11 - Consolidated Obligations | |||||||||||||||
As provided by the Bank Act and applicable regulations, Consolidated Obligations are backed only by the financial resources of all 12 FHLBanks. Although we are primarily liable for our portion of Consolidated Obligations (i.e., those issued on our behalf), we are also jointly and severally liable with the other 11 FHLBanks for the payment of the principal and interest on all Consolidated Obligations of each of the FHLBanks. No FHLBank has ever been asked or required to repay the principal or interest on any Consolidated Obligation on behalf of another FHLBank, and we do not believe that it is probable that we will be asked to do so. The par values of the 12 FHLBanks' outstanding Consolidated Obligations totaled $720.7 billion and $687.9 billion at September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||
Discount Notes. Our participation in Discount Notes, all of which are due within one year of issuance, was as follows: | |||||||||||||||
Discount Notes | September 30, | December 31, | |||||||||||||
2013 | 2012 | ||||||||||||||
Book value | $ | 7,804,773 | $ | 8,924,085 | |||||||||||
Par value | 7,806,128 | 8,925,828 | |||||||||||||
Weighted average effective interest rate | 0.1 | % | 0.15 | % | |||||||||||
CO Bonds. The following table presents our participation in CO Bonds outstanding: | |||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||
Year of Contractual Maturity | Amount | WAIR% | Amount | WAIR% | |||||||||||
Due in 1 year or less | $ | 11,933,250 | 0.45 | $ | 14,083,675 | 0.54 | |||||||||
Due after 1 year through 2 years | 2,863,950 | 1.41 | 2,984,650 | 1.49 | |||||||||||
Due after 2 years through 3 years | 1,695,250 | 1.59 | 1,323,800 | 1.59 | |||||||||||
Due after 3 years through 4 years | 1,356,350 | 1.6 | 724,900 | 3.08 | |||||||||||
Due after 4 years through 5 years | 1,985,000 | 2.04 | 1,337,700 | 2.29 | |||||||||||
Thereafter | 7,821,800 | 2.86 | 6,881,450 | 3.11 | |||||||||||
Total CO Bonds, par value | 27,655,600 | 1.47 | 27,336,175 | 1.5 | |||||||||||
Unamortized premiums | 35,136 | 36,958 | |||||||||||||
Unamortized discounts | (16,188 | ) | (17,444 | ) | |||||||||||
Hedging adjustments | (51,428 | ) | 51,841 | ||||||||||||
Total CO Bonds | $ | 27,623,120 | $ | 27,407,530 | |||||||||||
The following tables present our participation in CO Bonds outstanding by redemption feature and contractual maturity or next call date: | |||||||||||||||
Redemption Feature | September 30, | December 31, | |||||||||||||
2013 | 2012 | ||||||||||||||
Non-callable / non-putable | $ | 18,129,600 | $ | 19,952,175 | |||||||||||
Callable | 9,526,000 | 7,384,000 | |||||||||||||
Total CO Bonds, par value | $ | 27,655,600 | $ | 27,336,175 | |||||||||||
Year of Contractual Maturity or Next Call Date | September 30, | December 31, | |||||||||||||
2013 | 2012 | ||||||||||||||
Due in 1 year or less | $ | 21,394,250 | $ | 21,097,675 | |||||||||||
Due after 1 year through 2 years | 1,888,950 | 1,694,650 | |||||||||||||
Due after 2 years through 3 years | 1,087,250 | 1,091,800 | |||||||||||||
Due after 3 years through 4 years | 440,350 | 513,900 | |||||||||||||
Due after 4 years through 5 years | 545,000 | 607,700 | |||||||||||||
Thereafter | 2,299,800 | 2,330,450 | |||||||||||||
Total CO Bonds, par value | $ | 27,655,600 | $ | 27,336,175 | |||||||||||
Affordable_Housing_Program
Affordable Housing Program | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Affordable Housing Program [Abstract] | ' | ||||||||||||||||
Affordable Housing Program | ' | ||||||||||||||||
Note 12 - Affordable Housing Program | |||||||||||||||||
The following table summarizes the activity in our AHP funding obligation: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
AHP Activity | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Balance at beginning of period | $ | 41,050 | $ | 34,550 | $ | 34,362 | $ | 32,845 | |||||||||
Assessment (expense) | 3,442 | 4,056 | 16,066 | 13,157 | |||||||||||||
Subsidy usage, net (1) | (4,718 | ) | (4,059 | ) | (10,654 | ) | (11,455 | ) | |||||||||
Balance at end of period | $ | 39,774 | $ | 34,547 | $ | 39,774 | $ | 34,547 | |||||||||
(1) | Subsidies disbursed are reported net of returns of previously disbursed subsidies. |
Capital
Capital | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Capital [Abstract] | ' | ||||||||||||||||
Capital | ' | ||||||||||||||||
Note 13 - Capital | |||||||||||||||||
We are subject to capital requirements under our capital plan and the Finance Agency rules and regulations as disclosed in Note 15 - Capital in our 2012 Form 10-K. As presented in the following table, we were in compliance with the Finance Agency's capital requirements at September 30, 2013 and December 31, 2012. For regulatory purposes, AOCI is not considered capital; MRCS, however, is considered capital. | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Regulatory Capital Requirements | Required | Actual | Required | Actual | |||||||||||||
Risk-based capital | $ | 743,626 | $ | 2,625,924 | $ | 636,022 | $ | 2,676,616 | |||||||||
Regulatory permanent capital-to-asset ratio | 4 | % | 6.64 | % | 4 | % | 6.49 | % | |||||||||
Regulatory permanent capital | $ | 1,583,073 | $ | 2,625,924 | $ | 1,649,105 | $ | 2,676,616 | |||||||||
Leverage ratio | 5 | % | 9.95 | % | 5 | % | 9.74 | % | |||||||||
Leverage capital | $ | 1,978,842 | $ | 3,938,886 | $ | 2,061,382 | $ | 4,014,924 | |||||||||
Mandatorily Redeemable Capital Stock. At September 30, 2013 and December 31, 2012, we had $255,319 and $450,716, respectively, in capital stock subject to mandatory redemption, which is classified as a liability in the Statement of Condition. | |||||||||||||||||
The following table presents the activity in MRCS: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
MRCS Activity | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Balance at beginning of period | $ | 255,720 | $ | 450,898 | $ | 450,716 | $ | 453,885 | |||||||||
Additions due to change in membership status | — | — | 95,441 | 3,513 | |||||||||||||
Redemptions/repurchases | (401 | ) | (182 | ) | (290,975 | ) | (6,709 | ) | |||||||||
Accrued dividends | — | — | 137 | 27 | |||||||||||||
Balance at end of period | $ | 255,319 | $ | 450,716 | $ | 255,319 | $ | 450,716 | |||||||||
There were 17 and 27 former members holding MRCS at September 30, 2013 and December 31, 2012, respectively, which include zero and eight institutions, respectively, that were members at the time of their acquisition by the FDIC in its capacity as receiver. During the nine months ended September 30, 2013, we repurchased MRCS of $614 pursuant to our statutory and contractual lien on excess capital stock owned by a former member in order to enforce our contractual rights under our MPP and our Advances, Pledge and Security Agreement regarding mortgage loans sold to us. During the nine months ended September 30, 2013, we repurchased $250,000 par value of excess stock held as of December 31, 2012 by shareholders that are former members (or their successors-in-interest). We redeemed an additional $40,975 of excess stock held by former members because the stock had reached the end of its five-year redemption period. See Note 20 - Subsequent Events for details regarding an additional repurchase. | |||||||||||||||||
The following table presents the amount of MRCS by contractual year of redemption. The year of redemption in the table is the later of the end of the five-year redemption period or the maturity date of the activity to which the stock is related, if the stock represents the activity-based stock purchase requirement of a non-member (a former member that withdrew from membership, merged into a non-member or was otherwise acquired by a non-member). | |||||||||||||||||
Contractual Year of Redemption | September 30, | December 31, | |||||||||||||||
2013 | 2012 | ||||||||||||||||
Year 1 | $ | 147,130 | $ | 268,512 | |||||||||||||
Year 2 | 502 | 144,644 | |||||||||||||||
Year 3 | 8,733 | 20,511 | |||||||||||||||
Year 4 | 3,513 | 13,536 | |||||||||||||||
Year 5 | 95,441 | 3,513 | |||||||||||||||
Total MRCS | $ | 255,319 | $ | 450,716 | |||||||||||||
The following table presents the distributions on MRCS: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
MRCS Distributions | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Recorded as Interest Expense | $ | 2,225 | $ | 3,355 | $ | 6,713 | $ | 10,592 | |||||||||
Recorded as distributions from Retained Earnings | — | — | 137 | 27 | |||||||||||||
Total | $ | 2,225 | $ | 3,355 | $ | 6,850 | $ | 10,619 | |||||||||
Excess Capital Stock. Excess capital stock is defined as the amount of stock held by a member or former member in excess of that institution's minimum stock requirement. Finance Agency rules limit the ability of an FHLBank to create member excess stock under certain circumstances, including if excess stock exceeds 1% of Total Assets or if the issuance of excess stock would cause excess stock to exceed 1% of Total Assets. Our excess stock totaled $733,988 at September 30, 2013, which equaled approximately 1.9% of our Total Assets. Therefore, we are currently not permitted to issue new excess stock to members or distribute stock dividends. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||
Note 14 - Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||
The following table presents a summary of the changes in the components of AOCI for the three and nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||
AOCI Rollforward | Unrealized Gains (Losses) on AFS Securities (Note 3) | Non-Credit OTTI on AFS Securities (Note 3) | Non-Credit OTTI on HTM Securities | Pension Benefits | Total AOCI | ||||||||||||||||
(Note 4) | (Note 15) | ||||||||||||||||||||
Balance, June 30, 2012 | $ | 9,895 | $ | (79,157 | ) | $ | (350 | ) | $ | (10,098 | ) | $ | (79,710 | ) | |||||||
Total Other Comprehensive Income (Loss) | 3,606 | 35,626 | 18 | (570 | ) | 38,680 | |||||||||||||||
Balance, September 30, 2012 | $ | 13,501 | $ | (43,531 | ) | $ | (332 | ) | $ | (10,668 | ) | $ | (41,030 | ) | |||||||
Balance, December 31, 2011 | $ | 15,080 | $ | (119,274 | ) | $ | (392 | ) | $ | (8,955 | ) | $ | (113,541 | ) | |||||||
Total Other Comprehensive Income (Loss) | (1,579 | ) | 75,743 | 60 | (1,713 | ) | 72,511 | ||||||||||||||
Balance, September 30, 2012 | $ | 13,501 | $ | (43,531 | ) | $ | (332 | ) | $ | (10,668 | ) | $ | (41,030 | ) | |||||||
Balance, June 30, 2013 | $ | 475 | $ | 15,425 | $ | (275 | ) | $ | (11,698 | ) | $ | 3,927 | |||||||||
Other Comprehensive Income (Loss) before reclassifications: | |||||||||||||||||||||
Net change in unrealized gains (losses) | 2,392 | 2,474 | — | — | 4,866 | ||||||||||||||||
Net change in fair value | — | (84 | ) | — | — | (84 | ) | ||||||||||||||
Accretion of non-credit loss | — | — | 18 | — | 18 | ||||||||||||||||
Reclassifications from OCI to Net Income | |||||||||||||||||||||
Net (gains) losses on sold securities | — | — | — | — | — | ||||||||||||||||
Net Other-Than-Temporary Impairment Losses, credit portion | — | — | — | — | — | ||||||||||||||||
Compensation and Benefits | — | — | — | 6,175 | 6,175 | ||||||||||||||||
Total Other Comprehensive Income (Loss) | 2,392 | 2,390 | 18 | 6,175 | 10,975 | ||||||||||||||||
Balance, September 30, 2013 | $ | 2,867 | $ | 17,815 | $ | (257 | ) | $ | (5,523 | ) | $ | 14,902 | |||||||||
Balance, December 31, 2012 | $ | 12,335 | $ | (9,684 | ) | $ | (312 | ) | $ | (12,397 | ) | $ | (10,058 | ) | |||||||
Other Comprehensive Income (Loss) before reclassifications: | |||||||||||||||||||||
Net change in unrealized gains (losses) | (9,468 | ) | 7,615 | — | — | (1,853 | ) | ||||||||||||||
Net change in fair value | — | 35,095 | — | — | 35,095 | ||||||||||||||||
Accretion of non-credit loss | — | — | 55 | — | 55 | ||||||||||||||||
Reclassifications from OCI to Net Income | |||||||||||||||||||||
Net (gains) losses on sold securities | — | (17,135 | ) | — | — | (17,135 | ) | ||||||||||||||
Net Other-Than-Temporary Impairment Losses, credit portion | — | 1,924 | — | — | 1,924 | ||||||||||||||||
Compensation and Benefits | — | — | — | 6,874 | 6,874 | ||||||||||||||||
Total Other Comprehensive Income (Loss) | (9,468 | ) | 27,499 | 55 | 6,874 | 24,960 | |||||||||||||||
Balance, September 30, 2013 | $ | 2,867 | $ | 17,815 | $ | (257 | ) | $ | (5,523 | ) | $ | 14,902 | |||||||||
Employee_Retirement_and_Deferr
Employee Retirement and Deferred Compensation Plans | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Employee Retirement and Deferred Compensation Plans | ' | ||||||||||||||||
Note 15 - Employee Retirement and Deferred Compensation Plans | |||||||||||||||||
Nonqualified Supplemental Defined Benefit Retirement Plan. We participate in the SERP, a single-employer, non-qualified, unfunded supplemental executive retirement plan covering certain officers. This plan restores all or a portion of defined benefits to participating employees who have had their qualified defined benefits limited by Internal Revenue Service regulations. Since the SERP is a non-qualified unfunded plan, no contributions are required to be made during this year or thereafter. Payments of benefits may be made from the related grantor trust or from our general assets, and we may elect to make contributions to the grantor trust, in order to maintain a desired funding level. | |||||||||||||||||
During the three and nine months ended September 30, 2013, we accelerated the amortization of previously unrecognized pension benefits from AOCI to Compensation and Benefits of $5,093 due to the retirement of our former President - CEO and the associated settlement of the related plan obligation. | |||||||||||||||||
Components of the net periodic benefit cost of our SERP were: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net Periodic Benefit Cost | |||||||||||||||||
Service cost | $ | 136 | $ | 224 | $ | 592 | $ | 667 | |||||||||
Interest cost | 112 | 205 | 520 | 611 | |||||||||||||
Amortization of prior service benefit | (3 | ) | (3 | ) | (8 | ) | (8 | ) | |||||||||
Amortization of net actuarial loss (gain) | 135 | 392 | 875 | 1,167 | |||||||||||||
Net periodic benefit cost | 380 | 818 | 1,979 | 2,437 | |||||||||||||
Settlement loss | 5,093 | — | 5,093 | — | |||||||||||||
Total expense recorded in Compensation and Benefits | 5,473 | 818 | 7,072 | 2,437 | |||||||||||||
Net loss (income) recognized in OCI | (6,175 | ) | 570 | (6,874 | ) | 1,713 | |||||||||||
Total recognized in Compensation and Benefits and in OCI | $ | (702 | ) | $ | 1,388 | $ | 198 | $ | 4,150 | ||||||||
Segment_Information
Segment Information | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||||||
Note 16 - Segment Information | |||||||||||||||||||||||||
We have identified two primary operating segments: | |||||||||||||||||||||||||
• | Traditional, which consists of credit products (including Advances, letters of credit, and lines of credit), investments (including Federal Funds Sold, Securities Purchased Under Agreements to Resell, AFS securities, and HTM securities), and correspondent services and deposits; and | ||||||||||||||||||||||||
• | Mortgage Loans, which consists of mortgage loans purchased from our members through our MPP and participation interests purchased from the FHLBank of Topeka in mortgage loans originated by its members under the MPF program. | ||||||||||||||||||||||||
The following table presents our financial performance by operating segment: | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2013 | Traditional | Mortgage Loans | Total | Traditional | Mortgage Loans | Total | |||||||||||||||||||
Net Interest Income | $ | 34,486 | $ | 17,640 | $ | 52,126 | $ | 112,715 | $ | 60,418 | $ | 173,133 | |||||||||||||
Provision for (Reversal of) Credit Losses | — | 314 | 314 | — | (3,451 | ) | (3,451 | ) | |||||||||||||||||
Other Income (Loss) | (856 | ) | 1,407 | 551 | 27,359 | 1,104 | 28,463 | ||||||||||||||||||
Other Expenses | 18,324 | 1,841 | 20,165 | 46,347 | 4,751 | 51,098 | |||||||||||||||||||
Income Before Assessments | 15,306 | 16,892 | 32,198 | 93,727 | 60,222 | 153,949 | |||||||||||||||||||
Affordable Housing Program Assessments | 1,753 | 1,689 | 3,442 | 10,044 | 6,022 | 16,066 | |||||||||||||||||||
Net Income | $ | 13,553 | $ | 15,203 | $ | 28,756 | $ | 83,683 | $ | 54,200 | $ | 137,883 | |||||||||||||
September 30, 2012 | |||||||||||||||||||||||||
Net Interest Income | $ | 40,841 | $ | 18,241 | $ | 59,082 | $ | 124,488 | $ | 56,860 | $ | 181,348 | |||||||||||||
Provision for (Reversal of) Credit Losses | — | 5,634 | 5,634 | — | 7,917 | 7,917 | |||||||||||||||||||
Other Income (Loss) | (1,336 | ) | (832 | ) | (2,168 | ) | (4,967 | ) | (3,688 | ) | (8,655 | ) | |||||||||||||
Other Expenses | 12,771 | 1,311 | 14,082 | 39,928 | 3,873 | 43,801 | |||||||||||||||||||
Income Before Assessments | 26,734 | 10,464 | 37,198 | 79,593 | 41,382 | 120,975 | |||||||||||||||||||
Affordable Housing Program Assessments | 3,010 | 1,046 | 4,056 | 9,019 | 4,138 | 13,157 | |||||||||||||||||||
Net Income | $ | 23,724 | $ | 9,418 | $ | 33,142 | $ | 70,574 | $ | 37,244 | $ | 107,818 | |||||||||||||
The following table presents asset balances by segment: | |||||||||||||||||||||||||
By Date | Traditional | Mortgage Loans | Total | ||||||||||||||||||||||
September 30, 2013 | $ | 33,417,188 | $ | 6,159,647 | $ | 39,576,835 | |||||||||||||||||||
December 31, 2012 | 35,226,231 | 6,001,405 | 41,227,636 | ||||||||||||||||||||||
Estimated_Fair_Values
Estimated Fair Values | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Estimated Fair Values | ' | ||||||||||||||||||||||||
Note 17 - Estimated Fair Values | |||||||||||||||||||||||||
We review the fair value hierarchy classifications on a quarterly basis. Changes in the observability of the inputs may result in a reclassification of certain assets or liabilities. Such reclassifications are reported as transfers in/out at estimated fair value as of the beginning of the quarter in which the changes occur. As described below, we reclassified six AFS securities from Level 3 to Level 2 during the nine months ended September 30, 2013. There were no such reclassifications during the three months ended September 30, 2013 or the three and nine months ended September 30, 2012. | |||||||||||||||||||||||||
The following tables present the carrying value and estimated fair value of each of our financial assets and liabilities. The total of the estimated fair values does not represent an estimate of our overall market value as a going concern, which would take into account future business opportunities and the net profitability of assets and liabilities among other considerations. | |||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||
Carrying | Netting | ||||||||||||||||||||||||
Financial Instruments | Value | Total | Level 1 | Level 2 | Level 3 | Adjustment (1) | |||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Cash and Due from Banks | $ | 514,383 | $ | 514,383 | $ | 514,383 | $ | — | $ | — | $ | — | |||||||||||||
Interest-Bearing Deposits | 487 | 487 | — | 487 | — | — | |||||||||||||||||||
Securities Purchased Under Agreements to Resell | 2,700,000 | 2,700,000 | — | 2,700,000 | — | — | |||||||||||||||||||
Federal Funds Sold | 245,000 | 245,000 | — | 245,000 | — | — | |||||||||||||||||||
AFS securities | 3,688,783 | 3,688,783 | — | 3,200,214 | 488,569 | — | |||||||||||||||||||
HTM securities | 7,321,459 | 7,437,226 | — | 7,260,140 | 177,086 | — | |||||||||||||||||||
Advances | 18,796,297 | 18,900,794 | — | 18,900,794 | — | — | |||||||||||||||||||
Mortgage Loans Held for Portfolio, net | 6,159,647 | 6,305,330 | — | 6,256,720 | 48,610 | — | |||||||||||||||||||
Accrued Interest Receivable | 81,966 | 81,966 | — | 81,966 | — | — | |||||||||||||||||||
Derivative Assets, net | 7,655 | 7,655 | — | 115,613 | — | (107,958 | ) | ||||||||||||||||||
Grantor Trust Assets (included in Other Assets) | 12,061 | 12,061 | 12,061 | — | — | — | |||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Deposits | 1,114,509 | 1,114,509 | — | 1,114,509 | — | — | |||||||||||||||||||
Consolidated Obligations: | |||||||||||||||||||||||||
Discount Notes | 7,804,773 | 7,806,128 | — | 7,806,128 | — | — | |||||||||||||||||||
CO Bonds | 27,623,120 | 27,710,117 | — | 27,710,117 | — | — | |||||||||||||||||||
Accrued Interest Payable | 94,866 | 94,866 | — | 94,866 | — | — | |||||||||||||||||||
Derivative Liabilities, net | 187,234 | 187,234 | — | 691,361 | — | (504,127 | ) | ||||||||||||||||||
MRCS | 255,319 | 255,319 | 255,319 | — | — | — | |||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||
Carrying | Netting | ||||||||||||||||||||||||
Financial Instruments | Value | Total | Level 1 | Level 2 | Level 3 | Adjustment (1) | |||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Cash and Due from Banks | $ | 105,472 | $ | 105,472 | $ | 105,472 | $ | — | $ | — | $ | — | |||||||||||||
Interest-Bearing Deposits | 48 | 48 | — | 48 | — | — | |||||||||||||||||||
Securities Purchased Under Agreements to Resell | 3,250,000 | 3,250,000 | — | 3,250,000 | — | — | |||||||||||||||||||
Federal Funds Sold | 2,110,000 | 2,110,000 | — | 2,110,000 | — | — | |||||||||||||||||||
AFS securities | 3,980,580 | 3,980,580 | — | 3,340,438 | 640,142 | — | |||||||||||||||||||
HTM securities | 7,504,643 | 7,738,596 | — | 7,490,101 | 248,495 | — | |||||||||||||||||||
Advances | 18,129,458 | 18,298,372 | — | 18,298,372 | — | — | |||||||||||||||||||
Mortgage Loans Held for Portfolio, net | 6,001,405 | 6,318,983 | — | 6,265,990 | 52,993 | — | |||||||||||||||||||
Accrued Interest Receivable | 87,455 | 87,455 | — | 87,455 | — | — | |||||||||||||||||||
Derivative Assets, net | 821 | 821 | — | 73,578 | — | (72,757 | ) | ||||||||||||||||||
Grantor Trust Assets (included in Other Assets) | 18,440 | 18,440 | 18,440 | — | — | — | |||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Deposits | 1,787,151 | 1,787,151 | — | 1,787,151 | — | — | |||||||||||||||||||
Consolidated Obligations: | |||||||||||||||||||||||||
Discount Notes | 8,924,085 | 8,925,828 | — | 8,925,828 | — | — | |||||||||||||||||||
CO Bonds | 27,407,530 | 28,162,392 | — | 28,162,392 | — | — | |||||||||||||||||||
Accrued Interest Payable | 87,777 | 87,777 | — | 87,777 | — | — | |||||||||||||||||||
Derivative Liabilities, net | 201,115 | 201,115 | — | 951,521 | — | (750,406 | ) | ||||||||||||||||||
MRCS | 450,716 | 450,716 | 450,716 | — | — | — | |||||||||||||||||||
(1) | Amounts represent the application of the netting requirements that allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparty. | ||||||||||||||||||||||||
Summary of Valuation Techniques and Significant Inputs. A description of the valuation techniques, significant inputs, and levels of fair value hierarchy is disclosed in Note 19 - Estimated Fair Values in our 2012 Form 10-K, and no changes have been made in the current year, except as disclosed below. | |||||||||||||||||||||||||
Derivative Assets/Liabilities. The estimated fair values of our derivatives are adjusted for counterparty nonperformance risk, particularly credit risk, as appropriate. Our nonperformance risk adjustment is computed using observable credit default swap spreads and estimated probability default rates applied to our exposure after taking into consideration collateral held or placed. The nonperformance risk adjustment is not material to our derivative valuations or financial statements. | |||||||||||||||||||||||||
Estimated Fair Value Measurements. The following tables present by level within the fair value hierarchy the estimated fair value of our financial assets and liabilities that are recorded at estimated fair value on a recurring basis on our Statement of Condition. We did not have any financial assets or liabilities recorded at estimated fair value on a non-recurring basis on our Statement of Condition as of September 30, 2013 or December 31, 2012. | |||||||||||||||||||||||||
Netting | |||||||||||||||||||||||||
September 30, 2013 | Total | Level 1 | Level 2 | Level 3 | Adjustment (1) | ||||||||||||||||||||
AFS securities: | |||||||||||||||||||||||||
GSE and TVA debentures | $ | 3,200,214 | $ | — | $ | 3,200,214 | $ | — | $ | — | |||||||||||||||
Private-label RMBS | 488,569 | — | — | 488,569 | — | ||||||||||||||||||||
Total AFS securities | 3,688,783 | — | 3,200,214 | 488,569 | — | ||||||||||||||||||||
Derivative Assets: | |||||||||||||||||||||||||
Interest-rate related | 6,408 | — | 114,366 | — | (107,958 | ) | |||||||||||||||||||
Interest-rate futures/forwards | — | — | — | — | — | ||||||||||||||||||||
MDCs | 1,247 | — | 1,247 | — | — | ||||||||||||||||||||
Total Derivative Assets, net | 7,655 | — | 115,613 | — | (107,958 | ) | |||||||||||||||||||
Grantor Trust Assets (included in Other Assets) | 12,061 | 12,061 | — | — | — | ||||||||||||||||||||
Total recurring assets at estimated fair value | $ | 3,708,499 | $ | 12,061 | $ | 3,315,827 | $ | 488,569 | $ | (107,958 | ) | ||||||||||||||
Derivative Liabilities: | |||||||||||||||||||||||||
Interest-rate related | $ | 184,755 | $ | — | $ | 688,882 | $ | — | $ | (504,127 | ) | ||||||||||||||
Interest-rate futures/forwards | 2,479 | — | 2,479 | — | — | ||||||||||||||||||||
MDCs | — | — | — | — | — | ||||||||||||||||||||
Total Derivative Liabilities, net | 187,234 | — | 691,361 | — | (504,127 | ) | |||||||||||||||||||
Total recurring liabilities at estimated fair value | $ | 187,234 | $ | — | $ | 691,361 | $ | — | $ | (504,127 | ) | ||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
AFS securities: | |||||||||||||||||||||||||
GSE and TVA debentures | $ | 3,340,438 | $ | — | $ | 3,340,438 | $ | — | $ | — | |||||||||||||||
Private-label RMBS | 640,142 | — | — | 640,142 | — | ||||||||||||||||||||
Total AFS securities | 3,980,580 | — | 3,340,438 | 640,142 | — | ||||||||||||||||||||
Derivative Assets: | |||||||||||||||||||||||||
Interest-rate related | 302 | — | 73,059 | — | (72,757 | ) | |||||||||||||||||||
Interest-rate futures/forwards | 230 | — | 230 | — | — | ||||||||||||||||||||
MDCs | 289 | — | 289 | — | — | ||||||||||||||||||||
Total Derivative Assets, net | 821 | — | 73,578 | — | (72,757 | ) | |||||||||||||||||||
Grantor Trust Assets (included in Other Assets) | 18,440 | 18,440 | — | — | — | ||||||||||||||||||||
Total recurring assets at estimated fair value | $ | 3,999,841 | $ | 18,440 | $ | 3,414,016 | $ | 640,142 | $ | (72,757 | ) | ||||||||||||||
Derivative Liabilities: | |||||||||||||||||||||||||
Interest-rate related | $ | 201,043 | $ | — | $ | 951,449 | $ | — | $ | (750,406 | ) | ||||||||||||||
Interest-rate futures/forwards | 43 | — | 43 | — | — | ||||||||||||||||||||
MDCs | 29 | — | 29 | — | — | ||||||||||||||||||||
Total Derivative Liabilities, net | 201,115 | — | 951,521 | — | (750,406 | ) | |||||||||||||||||||
Total recurring liabilities at estimated fair value | $ | 201,115 | $ | — | $ | 951,521 | $ | — | $ | (750,406 | ) | ||||||||||||||
(1) | Amounts represent the application of the netting requirements that allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparty. | ||||||||||||||||||||||||
Level 3 Disclosures for All Assets and Liabilities that are Measured at Fair Value on a Recurring Basis. The table below presents a rollforward of our AFS private-label RMBS measured at estimated fair value on a recurring basis using Level 3 significant inputs. The estimated fair values for the private-label RMBS were valued using a pricing source, such as a dealer quote or comparable security price, for which the significant unobservable inputs used to determine the price were not reasonably available. | |||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||
Level 3 Rollforward | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Balance, beginning of period | $ | 511,952 | $ | 602,975 | $ | 640,142 | $ | 601,309 | |||||||||||||||||
Total realized and unrealized gains (losses): | |||||||||||||||||||||||||
Accretion of credit losses in Net Interest Income | 37 | 89 | 95 | 644 | |||||||||||||||||||||
Net gains (losses) on changes in fair value in Other Income (Loss) | — | (14 | ) | — | (3,592 | ) | |||||||||||||||||||
Net change in fair value not in excess of cumulative non-credit losses in OCI | (84 | ) | 32,311 | 12,625 | 64,096 | ||||||||||||||||||||
Unrealized gains (losses) in OCI | 2,474 | 3,301 | 16,843 | 8,055 | |||||||||||||||||||||
Reclassification of non-credit portion in OCI to Other Income (Loss) | — | 14 | — | 3,592 | |||||||||||||||||||||
Purchases, issuances, sales and settlements: | |||||||||||||||||||||||||
Settlements | (25,810 | ) | (17,735 | ) | (56,957 | ) | (53,163 | ) | |||||||||||||||||
Transfers out | — | — | (124,179 | ) | — | ||||||||||||||||||||
Balance, end of period | $ | 488,569 | $ | 620,941 | $ | 488,569 | $ | 620,941 | |||||||||||||||||
Net gains (losses) included in earnings attributable to changes in fair value relating to assets still held at end of period | $ | 37 | $ | 75 | $ | 95 | $ | (2,948 | ) | ||||||||||||||||
We classified the six securities we sold on April 4, 2013 as Level 2 within the fair value hierarchy as of March 31, 2013 because the estimated fair values were derived from and corroborated by the sales prices in actual market transactions. The total estimated fair value of these six securities that we transferred from Level 3 to Level 2 was $124,179 as of January 1, 2013, the beginning of the quarter in which the transfer occurred. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||
Commitments and Contingencies | ' | ||||||||||||
Note 18 - Commitments and Contingencies | |||||||||||||
The following table presents our off-balance-sheet commitments at their notional amounts: | |||||||||||||
September 30, 2013 | |||||||||||||
By Commitment | Expire within one year | Expire after one year | Total | ||||||||||
Standby letters of credit outstanding | $ | 112,594 | $ | 153,433 | $ | 266,027 | |||||||
Unused lines of credit | 793,552 | — | 793,552 | ||||||||||
Commitments to fund additional Advances (1) | 20,550 | — | 20,550 | ||||||||||
Commitments to fund or purchase mortgage loans and participation interests | 101,983 | — | 101,983 | ||||||||||
Unsettled CO Bonds, at par (2) | 1,010,000 | — | 1,010,000 | ||||||||||
(1) | Commitments to fund additional Advances are generally for periods up to six months and include no outstanding commitments to issue standby letters of credit. | ||||||||||||
(2) | Unsettled CO Bonds of $1,000,000 were hedged with associated interest-rate swaps. | ||||||||||||
Pledged Collateral. At September 30, 2013 and December 31, 2012, we had pledged cash collateral, at par, of $396,944 and $677,550, respectively, to counterparties and clearing agents. At September 30, 2013 and December 31, 2012, we had not pledged any securities as collateral. | |||||||||||||
Legal Proceedings. We are subject to legal proceedings arising in the normal course of business. After consultation with legal counsel, management does not anticipate that the ultimate liability, if any, arising out of these matters will have a material effect on our financial condition or results of operations. | |||||||||||||
Additional discussion of other commitments and contingencies is provided in Note 6 - Advances; Note 7 - Mortgage Loans Held for Portfolio; Note 9 - Derivatives and Hedging Activities; Note 11 - Consolidated Obligations; Note 13 - Capital; and Note 17 - Estimated Fair Values. |
Transactions_with_Related_Part
Transactions with Related Parties | 9 Months Ended | |||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||
Related Party Transactions [Abstract] | ' | |||||||||||||||||||||
Transactions with Related Parties | ' | |||||||||||||||||||||
Note 19 - Transactions with Related Parties | ||||||||||||||||||||||
For financial reporting purposes, we define related parties as those members, and former members and their affiliates, with capital stock outstanding in excess of 10% of our total outstanding Capital Stock and MRCS. Transactions with such related parties are entered into in the normal course of business and are subject to the same eligibility and credit criteria, as well as the same terms and conditions, as other similar transactions. In addition, under our Capital Plan, our members (including directors' financial institutions) have an activity-based Capital Stock requirement pursuant to which they purchase additional Capital Stock in specified amounts (generally expressed as a percentage of the transaction amount) when they obtain Advances from us or in certain cases sell mortgage loans to us. | ||||||||||||||||||||||
The following table presents the outstanding balances with respect to transactions with related parties and their balance as a percent of the total balance on our Statement of Condition. | ||||||||||||||||||||||
Capital Stock, including MRCS | Advances | Mortgage Loans Held for Portfolio (2) | ||||||||||||||||||||
September 30, 2013 | Balance, | % of Total | Balance, | % of Total | UPB | % of Total | ||||||||||||||||
par value | par value | |||||||||||||||||||||
Flagstar Bank, FSB | $ | 301,737 | 16 | % | $ | 2,907,598 | 16 | % | $ | 554,658 | 9 | % | ||||||||||
Total (1) | $ | 301,737 | 16 | % | $ | 2,907,598 | 16 | % | $ | 554,658 | 9 | % | ||||||||||
December 31, 2012 | ||||||||||||||||||||||
Flagstar Bank, FSB | $ | 301,737 | 14 | % | $ | 3,180,000 | 18 | % | $ | 656,931 | 11 | % | ||||||||||
Bank of America, N.A. (former member) | 224,921 | 11 | % | 300,000 | 2 | % | 1,210,009 | 20 | % | |||||||||||||
Total | $ | 526,658 | 25 | % | $ | 3,480,000 | 20 | % | $ | 1,866,940 | 31 | % | ||||||||||
(1) | Bank of America, N.A. did not meet the definition of a related party as of September 30, 2013 as a result of our repurchase of excess stock in February 2013. | |||||||||||||||||||||
(2) | Represents UPB of mortgage loans purchased from related party. | |||||||||||||||||||||
During the three and nine months ended September 30, 2013 and 2012, we had net Advances to (repayments from) related parties as follows: | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||
Related Party | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Flagstar Bank, FSB | $ | 7,598 | $ | (312,000 | ) | $ | (272,402 | ) | $ | (865,000 | ) | |||||||||||
Bank of America, N.A. (former member) (1) | — | — | — | (100,000 | ) | |||||||||||||||||
(1) | Bank of America, N.A. did not meet the definition of a related party following our repurchase of excess stock in February 2013. | |||||||||||||||||||||
We did not acquire any mortgage loans from related parties during the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||||||||
Transactions with Directors' Financial Institutions. We provide, in the ordinary course of business, products and services to members whose officers or directors serve on our board of directors. In accordance with Finance Agency regulations, transactions with directors' financial institutions are executed on the same terms as those with any other member. | ||||||||||||||||||||||
The following table presents the outstanding balances with respect to transactions with directors' financial institutions and their balance as a percent of the total balance on our Statement of Condition. | ||||||||||||||||||||||
Capital Stock, including MRCS | Advances | Mortgage Loans Held for Portfolio (1) | ||||||||||||||||||||
Date | Balance, | % of Total | Balance, | % of Total | UPB | % of Total | ||||||||||||||||
par value | par value | |||||||||||||||||||||
September 30, 2013 | $ | 42,842 | 2 | % | $ | 238,815 | 1 | % | $ | 78,774 | 1 | % | ||||||||||
December 31, 2012 | 74,114 | 4 | % | 462,758 | 3 | % | 74,235 | 1 | % | |||||||||||||
(1) | Represents UPB of mortgage loans purchased from Directors' Financial Institutions. | |||||||||||||||||||||
During the three and nine months ended September 30, 2013 and 2012, net Advances to (repayments from) directors' financial institutions and mortgage loans acquired from directors' financial institutions, taking into account the dates of the directors' appointments and resignations, were as follows: | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||
Transactions with Directors' Financial Institutions | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Net Advances (repayments) | $ | 13,678 | $ | (18,931 | ) | $ | (108,340 | ) | $ | (21,717 | ) | |||||||||||
Mortgage loans acquired | 8,110 | 12,515 | 21,271 | 24,854 | ||||||||||||||||||
Transactions with Other FHLBanks. During the three and nine months ended September 30, 2013, we purchased $53,581 and $309,477, respectively, of participation interests from the FHLBank of Topeka in mortgage loans originated by its members under the MPF program, compared with $65,338 for both the three and nine months ended September 30, 2012. | ||||||||||||||||||||||
Beginning in July 2012, we pay an MPF Provider fee to the FHLBank of Chicago for our participation in the MPF program that is recorded in Other Expenses. For the three and nine months ended September 30, 2013, we paid such fees in the amount of $68 and $160, respectively, compared to $2 for the three and nine months ended September 30, 2012. |
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Note 20 - Subsequent Events | |
On September 19, 2013, we announced our intention to repurchase up to $250,000 par value of excess stock held as of August 31, 2013 by shareholders that are members or former members (or their successors-in-interest) in accordance with Section VI.C. of our capital plan dated September 19, 2002 (as amended effective September 5, 2011). The repurchases occurred in October 2013, and included $13,952 contractually due in 2013 and $236,048 not contractually due for redemption until 2014 or later. The repurchases included $95,489 of capital stock under redemption requests and $154,511 of MRCS. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Use of Estimates, Policy | ' |
Use of Estimates. The preparation of financial statements in accordance with GAAP requires us to make subjective assumptions and estimates that may affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of income and expense. Actual results could differ significantly from these estimates. | |
Financial Instruments with Legal Right of Offset, Policy | ' |
Financial Instruments with Legal Right of Offset. We present certain financial instruments, including derivative instruments and securities purchased under agreements to resell, on a net basis when they have a legal right of offset and all other requirements for netting are met (collectively referred to as the netting requirements). For these financial instruments, we have elected to offset our derivative asset and liability positions, as well as cash collateral received or pledged, when we have met the netting requirements. | |
For derivative instruments that meet the netting requirements, any excess cash collateral received or pledged is recognized as a derivative liability or derivative asset. | |
Investment Securities, Policy | ' |
On a quarterly basis, we evaluate for OTTI our individual AFS and HTM securities that have been previously OTTI or are in an unrealized loss position. As part of our evaluation, we consider whether we intend to sell each security and whether it is more likely than not that we will be required to sell the security before its anticipated recovery. | |
If either of these conditions is met, we recognize an OTTI loss in earnings equal to the entire difference between the debt security's amortized cost and its estimated fair value as of the Statement of Condition date. | |
Fair Value of Financial Instruments, Policy | ' |
Derivative Assets/Liabilities. The estimated fair values of our derivatives are adjusted for counterparty nonperformance risk, particularly credit risk, as appropriate. Our nonperformance risk adjustment is computed using observable credit default swap spreads and estimated probability default rates applied to our exposure after taking into consideration collateral held or placed. The nonperformance risk adjustment is not material to our derivative valuations or financial statements. |
AvailableforSale_Securities_Ta
Available-for-Sale Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Available-for-sale Securities [Line Items] | ' | ||||||||||||||||||||||||
Available-for-Sale (AFS) Securities by Major Security Type [Table Text Block] | ' | ||||||||||||||||||||||||
The following table presents information on our AFS securities: | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Non-Credit | Unrealized | Unrealized | Estimated | |||||||||||||||||||||
September 30, 2013 | Cost (1) | OTTI | Gains | Losses | Fair Value | ||||||||||||||||||||
GSE and TVA debentures | $ | 3,197,347 | $ | — | $ | 8,646 | $ | (5,779 | ) | $ | 3,200,214 | ||||||||||||||
Private-label RMBS | 470,754 | (242 | ) | 18,057 | — | 488,569 | |||||||||||||||||||
Total AFS securities | $ | 3,668,101 | $ | (242 | ) | $ | 26,703 | $ | (5,779 | ) | $ | 3,688,783 | |||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
GSE and TVA debentures | $ | 3,328,103 | $ | — | $ | 13,007 | $ | (672 | ) | $ | 3,340,438 | ||||||||||||||
Private-label RMBS | 649,826 | (20,126 | ) | 10,442 | — | 640,142 | |||||||||||||||||||
Total AFS securities | $ | 3,977,929 | $ | (20,126 | ) | $ | 23,449 | $ | (672 | ) | $ | 3,980,580 | |||||||||||||
(1) | Amortized cost of AFS securities includes adjustments made to the cost basis of an investment for accretion, amortization, collection of principal, and, if applicable, OTTI recognized in earnings (credit losses) and fair-value hedge accounting adjustments. | ||||||||||||||||||||||||
Schedule of Realized Gain (Loss) [Table Text Block] | ' | ||||||||||||||||||||||||
The following table presents the proceeds, previously recognized OTTI credit losses including accretion, and gross realized gains and losses related to the sale of six OTTI AFS securities, only one of which was in an unrealized loss position. In the first quarter of 2013, we recorded an OTTI credit charge for this security, representing the entire difference between our amortized cost basis and its estimated fair value, which resulted in no gross realized losses related to the sale. We compute gains and losses on sales of investment securities using the specific identification method. | |||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||
Sales of AFS Securities | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Proceeds from sale | $ | — | $ | — | $ | 129,471 | $ | — | |||||||||||||||||
Previously recognized OTTI credit losses including accretion | $ | — | $ | — | $ | 38,806 | $ | — | |||||||||||||||||
Gross realized gains | $ | — | $ | — | $ | 17,135 | $ | — | |||||||||||||||||
Gross realized losses | — | — | — | — | |||||||||||||||||||||
Net Realized Gains from Sale of Available-for-Sale Securities | $ | — | $ | — | $ | 17,135 | $ | — | |||||||||||||||||
Available-for-sale Securities [Member] | ' | ||||||||||||||||||||||||
Available-for-sale Securities [Line Items] | ' | ||||||||||||||||||||||||
AFS Securities in a Continuous Unrealized Loss Position [Table Text Block] | ' | ||||||||||||||||||||||||
The following table presents impaired AFS securities (i.e., in an unrealized loss position), which are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. | |||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
Estimated | Unrealized | Estimated | Unrealized | Estimated | Unrealized | ||||||||||||||||||||
September 30, 2013 | Fair Value | Losses | Fair Value | Losses | Fair Value | Losses | |||||||||||||||||||
GSE and TVA debentures | $ | 998,420 | $ | (5,779 | ) | $ | — | $ | — | $ | 998,420 | $ | (5,779 | ) | |||||||||||
Private-label RMBS | — | — | 7,719 | (242 | ) | 7,719 | (242 | ) | |||||||||||||||||
Total impaired AFS securities | $ | 998,420 | $ | (5,779 | ) | $ | 7,719 | $ | (242 | ) | $ | 1,006,139 | $ | (6,021 | ) | ||||||||||
December 31, 2012 | |||||||||||||||||||||||||
GSE and TVA debentures | $ | 398,265 | $ | (672 | ) | $ | — | $ | — | $ | 398,265 | $ | (672 | ) | |||||||||||
Private-label RMBS | — | — | 471,359 | (20,126 | ) | 471,359 | (20,126 | ) | |||||||||||||||||
Total impaired AFS securities | $ | 398,265 | $ | (672 | ) | $ | 471,359 | $ | (20,126 | ) | $ | 869,624 | $ | (20,798 | ) | ||||||||||
AFS Securities by Contractual Maturity [Table Text Block] | ' | ||||||||||||||||||||||||
The amortized cost and estimated fair value of non-MBS AFS securities by contractual maturity are presented below. MBS are not presented by contractual maturity because their actual maturities will likely differ from contractual maturities as borrowers have the right to prepay obligations with or without prepayment fees. | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Amortized | Estimated | Amortized | Estimated | ||||||||||||||||||||||
Year of Contractual Maturity | Cost | Fair Value | Cost | Fair Value | |||||||||||||||||||||
Due in one year or less | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Due after one year through five years | 2,040,424 | 2,048,487 | 2,038,791 | 2,048,429 | |||||||||||||||||||||
Due after five years through ten years | 1,123,231 | 1,118,511 | 1,197,884 | 1,200,979 | |||||||||||||||||||||
Due after ten years | 33,692 | 33,216 | 91,428 | 91,030 | |||||||||||||||||||||
Total Non-MBS | 3,197,347 | 3,200,214 | 3,328,103 | 3,340,438 | |||||||||||||||||||||
Total MBS | 470,754 | 488,569 | 649,826 | 640,142 | |||||||||||||||||||||
Total AFS securities | $ | 3,668,101 | $ | 3,688,783 | $ | 3,977,929 | $ | 3,980,580 | |||||||||||||||||
HeldtoMaturity_Securities_Tabl
Held-to-Maturity Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Schedule of Held-to-maturity Securities [Line Items] | ' | ||||||||||||||||||||||||
HTM Securities by Major Security Type [Table Text Block] | ' | ||||||||||||||||||||||||
The following table presents information on our HTM securities: | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Unrecognized | Unrecognized | ||||||||||||||||||||||||
Amortized | Non-Credit | Carrying | Holding | Holding | Estimated | ||||||||||||||||||||
September 30, 2013 | Cost (1) | OTTI | Value (2) | Gains (3) | Losses (3) | Fair Value | |||||||||||||||||||
GSE debentures | $ | 268,998 | $ | — | $ | 268,998 | $ | 663 | $ | — | $ | 269,661 | |||||||||||||
MBS and ABS: | |||||||||||||||||||||||||
Other U.S. obligations -guaranteed RMBS | 3,090,243 | — | 3,090,243 | 53,058 | (11,493 | ) | 3,131,808 | ||||||||||||||||||
GSE RMBS | 3,781,786 | — | 3,781,786 | 81,713 | (4,828 | ) | 3,858,671 | ||||||||||||||||||
Private-label RMBS | 165,093 | — | 165,093 | 488 | (1,802 | ) | 163,779 | ||||||||||||||||||
Manufactured housing loan ABS | 13,410 | — | 13,410 | — | (2,010 | ) | 11,400 | ||||||||||||||||||
Home equity loan ABS | 2,186 | (257 | ) | 1,929 | 105 | (127 | ) | 1,907 | |||||||||||||||||
Total MBS and ABS | 7,052,718 | (257 | ) | 7,052,461 | 135,364 | (20,260 | ) | 7,167,565 | |||||||||||||||||
Total HTM securities | $ | 7,321,716 | $ | (257 | ) | $ | 7,321,459 | $ | 136,027 | $ | (20,260 | ) | $ | 7,437,226 | |||||||||||
December 31, 2012 | |||||||||||||||||||||||||
GSE debentures | $ | 268,996 | $ | — | $ | 268,996 | $ | 357 | $ | — | $ | 269,353 | |||||||||||||
MBS and ABS: | |||||||||||||||||||||||||
Other U.S. obligations -guaranteed RMBS | 3,123,784 | — | 3,123,784 | 84,169 | (1,345 | ) | 3,206,608 | ||||||||||||||||||
GSE RMBS | 3,859,172 | — | 3,859,172 | 155,044 | (76 | ) | 4,014,140 | ||||||||||||||||||
Private-label RMBS | 235,778 | — | 235,778 | 992 | (2,577 | ) | 234,193 | ||||||||||||||||||
Manufactured housing loan ABS | 14,779 | — | 14,779 | — | (2,276 | ) | 12,503 | ||||||||||||||||||
Home equity loan ABS | 2,446 | (312 | ) | 2,134 | 5 | (340 | ) | 1,799 | |||||||||||||||||
Total MBS and ABS | 7,235,959 | (312 | ) | 7,235,647 | 240,210 | (6,614 | ) | 7,469,243 | |||||||||||||||||
Total HTM securities | $ | 7,504,955 | $ | (312 | ) | $ | 7,504,643 | $ | 240,567 | $ | (6,614 | ) | $ | 7,738,596 | |||||||||||
(1) | Amortized cost includes adjustments made to the cost basis of an investment for accretion, amortization, collection of principal, and, if applicable, OTTI recognized in earnings (credit losses). | ||||||||||||||||||||||||
(2) | Carrying value of HTM securities represents amortized cost after adjustment for non-credit OTTI recognized in AOCI. | ||||||||||||||||||||||||
(3) | Gross unrecognized holding gains (losses) represents the difference between estimated fair value and carrying value. | ||||||||||||||||||||||||
Held-to-maturity Securities [Member] | ' | ||||||||||||||||||||||||
Schedule of Held-to-maturity Securities [Line Items] | ' | ||||||||||||||||||||||||
HTM Securities in a Continuous Unrealized Loss Position [Table Text Block] | ' | ||||||||||||||||||||||||
The following table presents impaired HTM securities (i.e., in an unrealized loss position), aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. None of our non-MBS were in an unrealized loss position at September 30, 2013 or December 31, 2012. | |||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
Estimated | Unrealized | Estimated | Unrealized | Estimated | Unrealized | ||||||||||||||||||||
September 30, 2013 | Fair Value | Losses | Fair Value | Losses | Fair Value | Losses (1) | |||||||||||||||||||
MBS and ABS: | |||||||||||||||||||||||||
Other U.S. obligations - guaranteed RMBS | $ | 1,415,791 | $ | (7,734 | ) | $ | 435,953 | $ | (3,759 | ) | $ | 1,851,744 | $ | (11,493 | ) | ||||||||||
GSE RMBS | 1,357,575 | (4,805 | ) | 7,590 | (23 | ) | 1,365,165 | (4,828 | ) | ||||||||||||||||
Private-label RMBS | 48,662 | (311 | ) | 64,397 | (1,491 | ) | 113,059 | (1,802 | ) | ||||||||||||||||
Manufactured housing loan ABS | — | — | 11,399 | (2,010 | ) | 11,399 | (2,010 | ) | |||||||||||||||||
Home equity loan ABS | — | — | 1,907 | (279 | ) | 1,907 | (279 | ) | |||||||||||||||||
Total MBS and ABS | 2,822,028 | (12,850 | ) | 521,246 | (7,562 | ) | 3,343,274 | (20,412 | ) | ||||||||||||||||
Total impaired HTM securities | $ | 2,822,028 | $ | (12,850 | ) | $ | 521,246 | $ | (7,562 | ) | $ | 3,343,274 | $ | (20,412 | ) | ||||||||||
December 31, 2012 | |||||||||||||||||||||||||
MBS and ABS: | |||||||||||||||||||||||||
Other U.S. obligations - guaranteed RMBS | $ | 274,784 | $ | (432 | ) | $ | 460,152 | $ | (913 | ) | $ | 734,936 | $ | (1,345 | ) | ||||||||||
GSE RMBS | 124,225 | (76 | ) | — | — | 124,225 | (76 | ) | |||||||||||||||||
Private-label RMBS | 7,258 | (36 | ) | 155,651 | (2,541 | ) | 162,909 | (2,577 | ) | ||||||||||||||||
Manufactured housing loan ABS | — | — | 12,503 | (2,276 | ) | 12,503 | (2,276 | ) | |||||||||||||||||
Home equity loan ABS | — | — | 1,799 | (647 | ) | 1,799 | (647 | ) | |||||||||||||||||
Total MBS and ABS | 406,267 | (544 | ) | 630,105 | (6,377 | ) | 1,036,372 | (6,921 | ) | ||||||||||||||||
Total impaired HTM securities | $ | 406,267 | $ | (544 | ) | $ | 630,105 | $ | (6,377 | ) | $ | 1,036,372 | $ | (6,921 | ) | ||||||||||
(1) | Total unrealized losses on home equity loan ABS will not agree to total gross unrecognized holding losses. Total unrealized losses include non-credit-related OTTI losses recorded in AOCI and gross unrecognized holding gains on previously OTTI securities. | ||||||||||||||||||||||||
HTM Securities by Contractual Maturity [Table Text Block] | ' | ||||||||||||||||||||||||
The amortized cost, carrying value and estimated fair value of non-MBS HTM securities by contractual maturity are presented below. MBS and ABS are not presented by contractual maturity because their actual maturities will likely differ from contractual maturities as certain borrowers have the right to prepay obligations with or without prepayment fees. | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Amortized | Carrying | Estimated | Amortized | Carrying | Estimated | ||||||||||||||||||||
Year of Contractual Maturity | Cost (1) | Value (2) | Fair Value | Cost (1) | Value (2) | Fair Value | |||||||||||||||||||
Non-MBS: | |||||||||||||||||||||||||
Due in one year or less | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Due after one year through five years | 268,998 | 268,998 | 269,661 | 268,996 | 268,996 | 269,353 | |||||||||||||||||||
Due after five years through ten years | — | — | — | — | — | — | |||||||||||||||||||
Due after ten years | — | — | — | — | — | — | |||||||||||||||||||
Total Non-MBS | 268,998 | 268,998 | 269,661 | 268,996 | 268,996 | 269,353 | |||||||||||||||||||
Total MBS and ABS | 7,052,718 | 7,052,461 | 7,167,565 | 7,235,959 | 7,235,647 | 7,469,243 | |||||||||||||||||||
Total HTM securities | $ | 7,321,716 | $ | 7,321,459 | $ | 7,437,226 | $ | 7,504,955 | $ | 7,504,643 | $ | 7,738,596 | |||||||||||||
(1) | Amortized cost includes adjustments made to the cost basis of an investment for accretion, amortization, collection of principal, and, if applicable, OTTI recognized in earnings (credit losses). | ||||||||||||||||||||||||
(2) | Carrying value of HTM securities represents amortized cost after adjustment for non-credit OTTI recognized in AOCI. |
OtherThanTemporary_Impairments1
Other-Than-Temporary Impairments Analysis (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Other Than Temporary Impairments Analysis [Abstract] | ' | ||||||||||||||||||||||||||||
Rollforward of the Amounts Related to Credit Losses Recognized into Earnings [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following table presents a rollforward of the amounts related to credit losses recognized in earnings. The rollforward excludes accretion of credit losses for securities that have not experienced a significant increase in cash flows. | |||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||
Credit Loss Rollforward | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Balance at beginning of period | $ | 72,287 | $ | 109,214 | $ | 109,169 | $ | 105,636 | |||||||||||||||||||||
Additions: | |||||||||||||||||||||||||||||
Additional credit losses for which OTTI was previously recognized | — | 14 | 1,924 | 3,594 | |||||||||||||||||||||||||
Reductions: | |||||||||||||||||||||||||||||
Credit losses on securities sold, matured, paid down or prepaid | — | — | (30,506 | ) | (2 | ) | |||||||||||||||||||||||
Unamortized life-to-date credit losses on security that we intend to sell before recovery of its amortized cost basis | — | — | (8,300 | ) | — | ||||||||||||||||||||||||
Balance at end of period | $ | 72,287 | $ | 109,228 | $ | 72,287 | $ | 109,228 | |||||||||||||||||||||
Total Securities Other-than-Temporarily Impaired during the Life of the Security [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following table presents the September 30, 2013 classification and balances of OTTI securities impaired prior to September 30, 2013 (i.e., life to date) but not necessarily as of September 30, 2013. Securities are classified based on the originator's classification at the time of origination or based on the classification by the NRSROs upon issuance. Because there is no universally accepted definition of prime, Alt-A or subprime underwriting standards, such classifications are subjective. | |||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||
HTM Securities | AFS Securities | ||||||||||||||||||||||||||||
OTTI Life-to-Date | UPB | Amortized Cost | Carrying Value | Estimated Fair Value | UPB | Amortized Cost | Estimated Fair Value | ||||||||||||||||||||||
Private-label RMBS - prime | $ | — | $ | — | $ | — | $ | — | $ | 539,339 | $ | 470,754 | $ | 488,569 | |||||||||||||||
Private-label RMBS - Alt-A | — | — | — | — | — | — | — | ||||||||||||||||||||||
Home equity loan ABS - subprime | 920 | 884 | 627 | 732 | — | — | — | ||||||||||||||||||||||
Total OTTI securities | $ | 920 | $ | 884 | $ | 627 | $ | 732 | $ | 539,339 | $ | 470,754 | $ | 488,569 | |||||||||||||||
Advances_Tables
Advances (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Advances [Abstract] | ' | ||||||||||||||||
Advances Redemption Terms [Table Text Block] | ' | ||||||||||||||||
We had Advances outstanding, as presented below by year of contractual maturity, with interest rates ranging from 0% to 8.34%. | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Year of Contractual Maturity | Amount | WAIR % | Amount | WAIR % | |||||||||||||
Overdrawn demand and overnight deposit accounts | $ | 17 | 2.5 | $ | 15,004 | 2.5 | |||||||||||
Due in 1 year or less | 4,184,443 | 0.67 | 3,761,551 | 1.57 | |||||||||||||
Due after 1 year through 2 years | 2,019,963 | 2.56 | 1,365,251 | 2.66 | |||||||||||||
Due after 2 years through 3 years | 3,832,451 | 2.4 | 2,287,033 | 3.11 | |||||||||||||
Due after 3 years through 4 years | 2,969,219 | 2.35 | 3,435,097 | 2.61 | |||||||||||||
Due after 4 years through 5 years | 2,027,387 | 2.23 | 2,448,083 | 2.22 | |||||||||||||
Thereafter | 3,332,013 | 2.04 | 4,070,200 | 2.49 | |||||||||||||
Total Advances, par value | 18,365,493 | 1.93 | 17,382,219 | 2.38 | |||||||||||||
Unamortized discounts (including AHP) | (3,220 | ) | (1,284 | ) | |||||||||||||
Hedging adjustments | 323,670 | 577,225 | |||||||||||||||
Unamortized swap termination fees associated with modified Advances | 110,354 | 171,298 | |||||||||||||||
Total Advances | $ | 18,796,297 | $ | 18,129,458 | |||||||||||||
Advances by Year of Contractual Maturity, Next Call Date, or Next Put or Convert Date [Table Text Block] | ' | ||||||||||||||||
The following table presents Advances by the earlier of the year of contractual maturity or the next call date and next put date: | |||||||||||||||||
Year of Contractual Maturity | Year of Contractual Maturity | ||||||||||||||||
or Next Call Date | or Next Put Date | ||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Overdrawn demand and overnight deposit accounts | $ | 17 | $ | 15,004 | $ | 17 | $ | 15,004 | |||||||||
Due in 1 year or less | 6,544,808 | 5,800,961 | 4,382,443 | 4,070,551 | |||||||||||||
Due after 1 year through 2 years | 1,996,713 | 1,348,251 | 2,010,463 | 1,327,251 | |||||||||||||
Due after 2 years through 3 years | 3,896,451 | 2,163,783 | 3,803,451 | 2,250,533 | |||||||||||||
Due after 3 years through 4 years | 2,736,469 | 3,539,097 | 2,879,719 | 3,405,097 | |||||||||||||
Due after 4 years through 5 years | 1,812,387 | 2,310,333 | 1,977,387 | 2,328,583 | |||||||||||||
Thereafter | 1,378,648 | 2,204,790 | 3,312,013 | 3,985,200 | |||||||||||||
Total Advances, par value | $ | 18,365,493 | $ | 17,382,219 | $ | 18,365,493 | $ | 17,382,219 | |||||||||
Mortgage_Loans_Held_for_Portfo1
Mortgage Loans Held for Portfolio (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Mortgage Loans on Real Estate [Abstract] | ' | ||||||||||||
Mortgage Loans Held for Portfolio [Table Text Block] | ' | ||||||||||||
The following tables present information on Mortgage Loans Held for Portfolio: | |||||||||||||
September 30, 2013 | |||||||||||||
By Term | MPP | MPF | Total | ||||||||||
Fixed-rate medium-term (1) mortgages | $ | 1,026,871 | $ | 82,947 | $ | 1,109,818 | |||||||
Fixed-rate long-term (2) mortgages | 4,519,256 | 432,299 | 4,951,555 | ||||||||||
Total Mortgage Loans Held for Portfolio, UPB | 5,546,127 | 515,246 | 6,061,373 | ||||||||||
Unamortized premiums | 102,325 | 10,536 | 112,861 | ||||||||||
Unamortized discounts | (12,187 | ) | (114 | ) | (12,301 | ) | |||||||
Hedging adjustments | 3,891 | (677 | ) | 3,214 | |||||||||
Allowance for loan losses | (5,000 | ) | (500 | ) | (5,500 | ) | |||||||
Total Mortgage Loans Held for Portfolio, net | $ | 5,635,156 | $ | 524,491 | $ | 6,159,647 | |||||||
December 31, 2012 | |||||||||||||
By Term | MPP | MPF | Total | ||||||||||
Fixed-rate medium-term (1) mortgages | $ | 960,944 | $ | 41,014 | $ | 1,001,958 | |||||||
Fixed-rate long-term (2) mortgages | 4,735,020 | 189,166 | 4,924,186 | ||||||||||
Total Mortgage Loans Held for Portfolio, UPB | 5,695,964 | 230,180 | 5,926,144 | ||||||||||
Unamortized premiums | 81,459 | 6,323 | 87,782 | ||||||||||
Unamortized discounts | (12,266 | ) | — | (12,266 | ) | ||||||||
Hedging adjustments | 8,859 | 886 | 9,745 | ||||||||||
Allowance for loan losses | (9,850 | ) | (150 | ) | (10,000 | ) | |||||||
Total Mortgage Loans Held for Portfolio, net | $ | 5,764,166 | $ | 237,239 | $ | 6,001,405 | |||||||
(1) | Medium-term is defined as a term of 15 years or less at origination. | ||||||||||||
(2) | Long-term is defined as a term greater than 15 years at origination. | ||||||||||||
Mortgage Loans Held for Portfolio by Collateral/Guarantee Type [Table Text Block] | ' | ||||||||||||
September 30, 2013 | |||||||||||||
By Type | MPP | MPF | Total | ||||||||||
Conventional | $ | 4,786,021 | $ | 412,634 | $ | 5,198,655 | |||||||
Government | 760,106 | 102,612 | 862,718 | ||||||||||
Total Mortgage Loans Held for Portfolio, UPB | $ | 5,546,127 | $ | 515,246 | $ | 6,061,373 | |||||||
December 31, 2012 | |||||||||||||
By Type | MPP | MPF | Total | ||||||||||
Conventional | $ | 4,810,269 | $ | 177,204 | $ | 4,987,473 | |||||||
Government | 885,695 | 52,976 | 938,671 | ||||||||||
Total Mortgage Loans Held for Portfolio, UPB | $ | 5,695,964 | $ | 230,180 | $ | 5,926,144 | |||||||
Allowance_for_Credit_Losses_Ta
Allowance for Credit Losses (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Allowance for Credit Losses [Abstract] | ' | ||||||||||||||||||||||||
Impact of MPP Risk Sharing Structure on Allowance for Credit Losses [Table Text Block] | ' | ||||||||||||||||||||||||
The following table presents the impact of credit enhancements on the allowance: | |||||||||||||||||||||||||
MPP Credit Waterfall | September 30, | December 31, | |||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Estimated losses remaining after borrower's equity, before credit enhancements | $ | 35,963 | $ | 51,465 | |||||||||||||||||||||
Portion of estimated losses recoverable from PMI | (4,977 | ) | (6,494 | ) | |||||||||||||||||||||
Portion of estimated losses recoverable from LRA | (5,216 | ) | (7,750 | ) | |||||||||||||||||||||
Portion of estimated losses recoverable from SMI | (22,455 | ) | (33,438 | ) | |||||||||||||||||||||
Allowance for unrecoverable PMI/SMI | 1,685 | 6,067 | |||||||||||||||||||||||
Allowance for MPP loan losses | $ | 5,000 | $ | 9,850 | |||||||||||||||||||||
Changes in Lender Risk Account [Table Text Block] | ' | ||||||||||||||||||||||||
The following table presents the activity in the LRA: | |||||||||||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||||||||||
LRA Activity | 2013 | 2012 | |||||||||||||||||||||||
Balance of LRA, beginning of period | $ | 33,693 | $ | 23,408 | |||||||||||||||||||||
Additions | 12,555 | 13,017 | |||||||||||||||||||||||
Claims paid | (2,422 | ) | (6,165 | ) | |||||||||||||||||||||
Distributions | (761 | ) | (634 | ) | |||||||||||||||||||||
Balance of LRA, end of period | $ | 43,065 | $ | 29,626 | |||||||||||||||||||||
MPF Credit Enhancement Fees [Table Text Block] | ' | ||||||||||||||||||||||||
MPF Credit Enhancements. The following table presents the activity related to MPF Credit Enhancements: | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
MPF CE Fees | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Gross CE Fees paid to PFIs | $ | 90 | $ | 1 | $ | 207 | $ | 1 | |||||||||||||||||
Performance-based CE Fees recovered from PFIs | — | — | — | — | |||||||||||||||||||||
Net CE Fees paid | $ | 90 | $ | 1 | $ | 207 | $ | 1 | |||||||||||||||||
Rollforward of Allowance for Credit Losses on Mortgage Loans [Table Text Block] | ' | ||||||||||||||||||||||||
The tables below present a rollforward of our allowance for loan losses on mortgage loans, the allowance for loan losses by impairment methodology, and the recorded investment in mortgage loans by impairment methodology. The recorded investment in a loan is the UPB of the loan, adjusted for accrued interest, net of deferred loan fees or costs, unamortized premiums or discounts (which may include the basis adjustment related to any gain or loss on a delivery commitment prior to being funded) and direct write-downs. The recorded investment is not net of any valuation allowance. | |||||||||||||||||||||||||
MPP | MPF | ||||||||||||||||||||||||
Rollforward of Allowance | Conventional | Conventional | Total | ||||||||||||||||||||||
Allowance for loan losses on mortgage loans, June 30, 2013 | $ | 5,000 | $ | 500 | $ | 5,500 | |||||||||||||||||||
Charge-offs | (314 | ) | — | (314 | ) | ||||||||||||||||||||
Provision for (Reversal of) loan losses | 314 | — | 314 | ||||||||||||||||||||||
Allowance for loan losses on mortgage loans, September 30, 2013 | $ | 5,000 | $ | 500 | $ | 5,500 | |||||||||||||||||||
Allowance for loan losses on mortgage loans, December 31, 2012 | $ | 9,850 | $ | 150 | $ | 10,000 | |||||||||||||||||||
Charge-offs | (1,049 | ) | — | (1,049 | ) | ||||||||||||||||||||
Provision for (Reversal of) for loan losses | (3,801 | ) | 350 | (3,451 | ) | ||||||||||||||||||||
Allowance for loan losses on mortgage loans, September 30, 2013 | $ | 5,000 | $ | 500 | $ | 5,500 | |||||||||||||||||||
Allowance for loan losses on mortgage loans, June 30, 2012 | $ | 5,000 | $ | — | $ | 5,000 | |||||||||||||||||||
Charge-offs | (634 | ) | — | (634 | ) | ||||||||||||||||||||
Provision for (Reversal of) loan losses | 5,609 | 25 | 5,634 | ||||||||||||||||||||||
Allowance for loan losses on mortgage loans, September 30, 2012 | $ | 9,975 | $ | 25 | $ | 10,000 | |||||||||||||||||||
Allowance for loan losses on mortgage loans, December 31, 2011 | $ | 3,300 | $ | — | $ | 3,300 | |||||||||||||||||||
Charge-offs | (1,217 | ) | — | (1,217 | ) | ||||||||||||||||||||
Provision for (Reversal of) for loan losses | 7,892 | 25 | 7,917 | ||||||||||||||||||||||
Allowance for loan losses on mortgage loans, September 30, 2012 | $ | 9,975 | $ | 25 | $ | 10,000 | |||||||||||||||||||
Allowance for Credit Losses and Recorded Investment by Impairment Methodology [Table Text Block] | ' | ||||||||||||||||||||||||
MPP | MPF | ||||||||||||||||||||||||
Allowance for Loan Losses, September 30, 2013 | Conventional | Conventional | Total | ||||||||||||||||||||||
Loans collectively evaluated for impairment | $ | 4,252 | $ | 500 | $ | 4,752 | |||||||||||||||||||
Loans individually evaluated for impairment (1) | 748 | — | 748 | ||||||||||||||||||||||
Total allowance for loan losses | $ | 5,000 | $ | 500 | $ | 5,500 | |||||||||||||||||||
Allowance for Loan Losses, December 31, 2012 | |||||||||||||||||||||||||
Loans collectively evaluated for impairment | $ | 8,814 | $ | 150 | $ | 8,964 | |||||||||||||||||||
Loans individually evaluated for impairment (1) | 1,036 | — | 1,036 | ||||||||||||||||||||||
Total allowance for loan losses | $ | 9,850 | $ | 150 | $ | 10,000 | |||||||||||||||||||
Recorded Investment, September 30, 2013 | |||||||||||||||||||||||||
Loans collectively evaluated for impairment | $ | 4,860,122 | $ | 422,681 | $ | 5,282,803 | |||||||||||||||||||
Loans individually evaluated for impairment (1) | 18,530 | — | 18,530 | ||||||||||||||||||||||
Total recorded investment | $ | 4,878,652 | $ | 422,681 | $ | 5,301,333 | |||||||||||||||||||
Recorded Investment, December 31, 2012 | |||||||||||||||||||||||||
Loans collectively evaluated for impairment | $ | 4,871,579 | $ | 183,399 | $ | 5,054,978 | |||||||||||||||||||
Loans individually evaluated for impairment (1) | 16,817 | — | 16,817 | ||||||||||||||||||||||
Total recorded investment | $ | 4,888,396 | $ | 183,399 | $ | 5,071,795 | |||||||||||||||||||
(1) | The recorded investment in our MPP conventional loans individually evaluated for impairment excludes potential claims by servicers as of September 30, 2013 and December 31, 2012 for any losses resulting from past or future liquidations of the underlying properties on $11,195 and $15,665, respectively, of principal that was previously paid in full by the servicers. However, the MPP conventional loan allowance for loan losses includes $690 and $968 for these potential claims as of September 30, 2013 and December 31, 2012, respectively. | ||||||||||||||||||||||||
Recorded Investment in Delinquent Mortgage Loans [Table Text Block] | ' | ||||||||||||||||||||||||
The tables below present our key credit quality indicators for mortgage loans at September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||
MPP | MPF | ||||||||||||||||||||||||
Mortgage Loans Held for Portfolio as of September 30, 2013 | Conventional | FHA | Conventional | Government | Total | ||||||||||||||||||||
Past due 30-59 days | $ | 57,900 | $ | 27,876 | $ | 229 | $ | 832 | $ | 86,837 | |||||||||||||||
Past due 60-89 days | 17,743 | 8,873 | — | 166 | 26,782 | ||||||||||||||||||||
Past due 90 days or more | 85,766 | 3,502 | 129 | 253 | 89,650 | ||||||||||||||||||||
Total past due | 161,409 | 40,251 | 358 | 1,251 | 203,269 | ||||||||||||||||||||
Total current | 4,717,243 | 742,455 | 422,323 | 103,301 | 5,985,322 | ||||||||||||||||||||
Total mortgage loans, recorded investment | 4,878,652 | 782,706 | 422,681 | 104,552 | 6,188,591 | ||||||||||||||||||||
Net unamortized premiums | (71,190 | ) | (18,948 | ) | (8,930 | ) | (1,492 | ) | (100,560 | ) | |||||||||||||||
Hedging adjustments | (3,101 | ) | (791 | ) | 713 | (35 | ) | (3,214 | ) | ||||||||||||||||
Accrued interest receivable | (18,340 | ) | (2,861 | ) | (1,830 | ) | (413 | ) | (23,444 | ) | |||||||||||||||
Total Mortgage Loans Held for Portfolio, UPB | $ | 4,786,021 | $ | 760,106 | $ | 412,634 | $ | 102,612 | $ | 6,061,373 | |||||||||||||||
Other Delinquency Statistics as of September 30, 2013 | |||||||||||||||||||||||||
In process of foreclosure, included above (1) | $ | 52,541 | $ | — | $ | — | $ | — | $ | 52,541 | |||||||||||||||
Serious delinquency rate (2) | 1.76 | % | 0.45 | % | 0.03 | % | 0.24 | % | 1.45 | % | |||||||||||||||
Past due 90 days or more still accruing interest (3) | $ | 85,363 | $ | 3,502 | $ | — | $ | 253 | $ | 89,118 | |||||||||||||||
On non-accrual status | 1,355 | — | 129 | — | 1,484 | ||||||||||||||||||||
MPP | MPF | ||||||||||||||||||||||||
Mortgage Loans Held for Portfolio as of December 31, 2012 | Conventional | FHA | Conventional | Government | Total | ||||||||||||||||||||
Past due 30-59 days | $ | 63,797 | $ | 36,522 | $ | 293 | $ | 78 | $ | 100,690 | |||||||||||||||
Past due 60-89 days | 25,050 | 8,761 | — | 36 | 33,847 | ||||||||||||||||||||
Past due 90 days or more | 104,984 | 3,440 | 1 | — | 108,425 | ||||||||||||||||||||
Total past due | 193,831 | 48,723 | 294 | 114 | 242,962 | ||||||||||||||||||||
Total current | 4,694,565 | 859,236 | 183,105 | 54,649 | 5,791,555 | ||||||||||||||||||||
Total mortgage loans, recorded investment | 4,888,396 | 907,959 | 183,399 | 54,763 | 6,034,517 | ||||||||||||||||||||
Net unamortized premiums | (51,202 | ) | (17,990 | ) | (4,790 | ) | (1,534 | ) | (75,516 | ) | |||||||||||||||
Hedging adjustments | (7,958 | ) | (901 | ) | (819 | ) | (67 | ) | (9,745 | ) | |||||||||||||||
Accrued interest receivable | (18,967 | ) | (3,373 | ) | (586 | ) | (186 | ) | (23,112 | ) | |||||||||||||||
Total Mortgage Loans Held for Portfolio, UPB | $ | 4,810,269 | $ | 885,695 | $ | 177,204 | $ | 52,976 | $ | 5,926,144 | |||||||||||||||
Other Delinquency Statistics as of December 31, 2012 | |||||||||||||||||||||||||
In process of foreclosure, included above (1) | $ | 75,317 | $ | — | $ | — | $ | — | $ | 75,317 | |||||||||||||||
Serious delinquency rate (2) | 2.15 | % | 0.38 | % | — | % | — | % | 1.8 | % | |||||||||||||||
Past due 90 days or more still accruing interest (3) | $ | 104,805 | $ | 3,440 | $ | 1 | $ | — | $ | 108,246 | |||||||||||||||
On non-accrual status | 1,816 | — | — | — | 1,816 | ||||||||||||||||||||
(1) | Includes loans for which the decision of foreclosure or similar alternative, such as pursuit of deed-in-lieu of foreclosure, has been reported. Loans in process of foreclosure are included in past due categories depending on their delinquency status. | ||||||||||||||||||||||||
(2) | Represents loans 90 days or more past due (including loans in process of foreclosure) expressed as a percentage of the total recorded investment in mortgage loans. The percentage excludes principal amounts that were previously paid in full by the servicers on conventional loans that are pending resolution of potential loss claims. Many FHA loans are repurchased by the servicers when they reach 90 days or more delinquent status, similar to the rules for servicers of Ginnie Mae MBS, resulting in the lower serious delinquency rate for FHA loans. | ||||||||||||||||||||||||
(3) | Although our past due scheduled/scheduled MPP loans are classified as loans past due 90 days or more based on the mortgagor's payment status, we do not consider these loans to be non-accrual. | ||||||||||||||||||||||||
Performing and Non-performing Troubled Debt Restructurings [Table Text Block] | ' | ||||||||||||||||||||||||
The table below presents the recorded investment of the performing and non-performing troubled debt restructurings. | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Recorded Investment | Performing | Non-Performing (1) | Total | Performing | Non-Performing (1) | Total | |||||||||||||||||||
MPP conventional loans | $ | 17,389 | $ | 1,141 | $ | 18,530 | $ | 15,001 | $ | 1,816 | $ | 16,817 | |||||||||||||
(1) | Represents loans on non-accrual status only. | ||||||||||||||||||||||||
Troubled Debt Restructurings Recorded Investment Balance at Modification Date [Table Text Block] | ' | ||||||||||||||||||||||||
The tables below present the financial effect of the troubled debt restructurings for the three and nine months ended September 30, 2013 and 2012. The pre- and post-modification amounts represent the amount of recorded investment as of the date the loans were modified. | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||
Troubled Debt Restructurings at Modification Date | Pre-Modification | Post-Modification (1) | Pre-Modification | Post-Modification (1) | |||||||||||||||||||||
MPP conventional loans | $ | 767 | $ | 802 | $ | 4,060 | $ | 4,306 | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2012 | September 30, 2012 | ||||||||||||||||||||||||
Troubled Debt Restructurings at Modification Date | Pre-Modification | Post-Modification (1) | Pre-Modification | Post-Modification (1) | |||||||||||||||||||||
MPP conventional loans | $ | 2,163 | $ | 2,325 | $ | 11,931 | $ | 12,843 | |||||||||||||||||
(1) | Includes the capitalization of interest previously received under scheduled/scheduled payment terms. | ||||||||||||||||||||||||
Individually Evaluated Impaired Loan Statistics by Product Class Level [Table Text Block] | ' | ||||||||||||||||||||||||
The first table presents the recorded investment, UPB and related allowance associated with these loans while the next tables present the average recorded investment of individually impaired loans and related interest income recognized. | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Individually Evaluated Impaired Loans | Recorded Investment | UPB | Related Allowance for Loan Losses | Recorded Investment | UPB | Related Allowance for Loan Losses | |||||||||||||||||||
MPP conventional loans without allowance for loan losses | $ | 17,389 | $ | 17,222 | $ | — | $ | 15,001 | $ | 14,892 | $ | — | |||||||||||||
MPP conventional loans with allowance for loan losses | 1,141 | 1,116 | 58 | 1,816 | 1,783 | 68 | |||||||||||||||||||
Total | $ | 18,530 | $ | 18,338 | $ | 58 | $ | 16,817 | $ | 16,675 | $ | 68 | |||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||
Individually Evaluated Impaired Loans | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||
MPP conventional loans without allowance for loan losses | $ | 17,447 | $ | 253 | $ | 16,396 | $ | 708 | |||||||||||||||||
MPP conventional loans with allowance for loan losses | 1,143 | 17 | 1,142 | 82 | |||||||||||||||||||||
Total | $ | 18,590 | $ | 270 | $ | 17,538 | $ | 790 | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2012 | September 30, 2012 | ||||||||||||||||||||||||
Individually Evaluated Impaired Loans | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||
MPP conventional loans without allowance for loan losses | $ | 11,438 | $ | 182 | $ | 6,975 | $ | 377 | |||||||||||||||||
MPP conventional loans with allowance for loan losses | 2,404 | 35 | 1,519 | 79 | |||||||||||||||||||||
Total | $ | 13,842 | $ | 217 | $ | 8,494 | $ | 456 | |||||||||||||||||
Derivative_and_Hedging_Activit1
Derivative and Hedging Activities (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||
Fair Value of Derivative Instruments [Table Text Block] | ' | |||||||||||||||||
The following table presents the notional amount and estimated fair value of derivative instruments. Over-the-counter derivative transactions may be either executed with a counterparty (bilateral derivatives) or cleared through a Futures Commission Merchant (i.e., clearing agent) with a Clearinghouse (cleared derivatives). Once a derivative transaction has been accepted for clearing by a Clearinghouse, the derivative transaction is novated and the executing counterparty is replaced with the Clearinghouse. The Clearinghouse notifies the clearing agent of the required initial and variation margin, and the clearing agent notifies us of the required initial and variation margin. For purposes of this disclosure, the derivative values include the related accrued interest. | ||||||||||||||||||
Notional Amount of Derivatives | Estimated Fair Value of | Estimated Fair Value of | ||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||||
September 30, 2013 | ||||||||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||||||
Interest-rate swaps (1) | $ | 31,866,210 | $ | 112,380 | $ | 688,543 | ||||||||||||
Total derivatives designated as hedging instruments | 31,866,210 | 112,380 | 688,543 | |||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||
Interest-rate swaps | 1,859,743 | 792 | 339 | |||||||||||||||
Interest-rate caps/floors | 340,500 | 1,194 | — | |||||||||||||||
Interest-rate futures/forwards | 104,300 | — | 2,479 | |||||||||||||||
MDCs | 101,983 | 1,247 | — | |||||||||||||||
Total derivatives not designated as hedging instruments | 2,406,526 | 3,233 | 2,818 | |||||||||||||||
Total derivatives before adjustments | $ | 34,272,736 | 115,613 | 691,361 | ||||||||||||||
Netting adjustments | (114,366 | ) | (114,366 | ) | ||||||||||||||
Cash collateral and related accrued interest | 6,408 | (389,761 | ) | |||||||||||||||
Total adjustments (2) | (107,958 | ) | (504,127 | ) | ||||||||||||||
Total derivatives, net | $ | 7,655 | $ | 187,234 | ||||||||||||||
December 31, 2012 | ||||||||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||||||
Interest-rate swaps | $ | 32,158,474 | $ | 71,297 | $ | 951,216 | ||||||||||||
Total derivatives designated as hedging instruments | 32,158,474 | 71,297 | 951,216 | |||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||
Interest-rate swaps | 1,214,179 | 757 | 233 | |||||||||||||||
Interest-rate caps/floors | 340,500 | 1,005 | — | |||||||||||||||
Interest-rate futures/forwards | 156,700 | 230 | 43 | |||||||||||||||
MDCs | 157,475 | 289 | 29 | |||||||||||||||
Total derivatives not designated as hedging instruments | 1,868,854 | 2,281 | 305 | |||||||||||||||
Total derivatives before adjustments | $ | 34,027,328 | 73,578 | 951,521 | ||||||||||||||
Netting adjustments | (72,757 | ) | (72,757 | ) | ||||||||||||||
Cash collateral and related accrued interest | — | (677,649 | ) | |||||||||||||||
Total adjustments (2) | (72,757 | ) | (750,406 | ) | ||||||||||||||
Total derivatives, net | $ | 821 | $ | 201,115 | ||||||||||||||
(1) | Includes all cleared derivatives. | |||||||||||||||||
(2) | Amounts represent the application of the netting requirements that allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparty. | |||||||||||||||||
Credit Risk Exposure on Derivative Instruments [Table Text Block] | ' | |||||||||||||||||
30-Sep-13 | Estimated Fair Value of Derivative Assets | Estimated Fair Value of Derivative Liabilities | ||||||||||||||||
Derivative instruments meeting netting requirements: | ||||||||||||||||||
Gross recognized amount | ||||||||||||||||||
Bilateral derivatives | $ | 113,128 | $ | 686,087 | ||||||||||||||
Cleared derivatives | 1,238 | 2,795 | ||||||||||||||||
Total gross recognized amount | 114,366 | 688,882 | ||||||||||||||||
Gross amounts of netting adjustments and cash collateral | ||||||||||||||||||
Bilateral derivatives | (113,128 | ) | (501,332 | ) | ||||||||||||||
Cleared derivatives | 5,170 | (2,795 | ) | |||||||||||||||
Total gross amounts of netting adjustments and cash collateral | (107,958 | ) | (504,127 | ) | ||||||||||||||
Net amounts after netting adjustments and cash collateral | ||||||||||||||||||
Bilateral derivatives | — | 184,755 | ||||||||||||||||
Cleared derivatives | 6,408 | — | ||||||||||||||||
Total net amounts after netting adjustments and cash collateral | 6,408 | 184,755 | ||||||||||||||||
Derivative instruments not meeting netting requirements (1) | 1,247 | 2,479 | ||||||||||||||||
Total derivatives | $ | 7,655 | $ | 187,234 | ||||||||||||||
31-Dec-12 | Estimated Fair Value of Derivative Assets | Estimated Fair Value of Derivative Liabilities | ||||||||||||||||
Derivative instruments meeting netting requirements: | ||||||||||||||||||
Gross recognized amount | $ | 73,059 | $ | 951,449 | ||||||||||||||
Gross amounts of netting adjustments and cash collateral | (72,757 | ) | (750,406 | ) | ||||||||||||||
Net amounts after netting adjustments and cash collateral | 302 | 201,043 | ||||||||||||||||
Derivative instruments not meeting netting requirements (1) | 519 | 72 | ||||||||||||||||
Total derivatives | $ | 821 | $ | 201,115 | ||||||||||||||
(1) | Includes MDCs and certain interest-rate futures or forwards. | |||||||||||||||||
Components of Net Gains (Losses) on Derivatives and Hedging Activities [Table Text Block] | ' | |||||||||||||||||
The following table presents the components of Net Gains (Losses) on Derivatives and Hedging Activities reported in Other Income (Loss): | ||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||
Type of Hedge | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net gain (loss) related to fair-value hedge ineffectiveness: | ||||||||||||||||||
Interest-rate swaps | $ | (1,353 | ) | $ | (1,973 | ) | $ | 8,596 | $ | (2,425 | ) | |||||||
Total net gain (loss) related to fair-value hedge ineffectiveness | (1,353 | ) | (1,973 | ) | 8,596 | (2,425 | ) | |||||||||||
Net gain (loss) on derivatives not designated as hedging instruments: | ||||||||||||||||||
Economic hedges: | ||||||||||||||||||
Interest-rate swaps | 62 | 91 | 5,002 | 294 | ||||||||||||||
Interest-rate caps/floors | (405 | ) | (301 | ) | 189 | (1,577 | ) | |||||||||||
Interest-rate futures/forwards | 334 | (6,054 | ) | 6,119 | (10,602 | ) | ||||||||||||
Net interest settlements | 194 | (41 | ) | (4,063 | ) | (47 | ) | |||||||||||
MDCs | 1,043 | 5,222 | (5,172 | ) | 6,914 | |||||||||||||
Total net gain (loss) on derivatives not designated as hedging instruments | 1,228 | (1,083 | ) | 2,075 | (5,018 | ) | ||||||||||||
Net Gains (Losses) on Derivatives and Hedging Activities | $ | (125 | ) | $ | (3,056 | ) | $ | 10,671 | $ | (7,443 | ) | |||||||
Effect of Fair Value Hedge-Related Derivative Instruments [Table Text Block] | ' | |||||||||||||||||
The following table presents, by type of hedged item, the gains (losses) on derivatives and the related hedged items in fair-value hedging relationships and the effect of those derivatives on Net Interest Income: | ||||||||||||||||||
Gain (Loss) | Gain (Loss) | Net Fair- | Effect on | |||||||||||||||
on | on Hedged | Value Hedge | Net Interest | |||||||||||||||
Three Months Ended September 30, 2013 | Derivative | Item | Ineffectiveness | Income (1) | ||||||||||||||
Advances | $ | (8,893 | ) | $ | 7,160 | $ | (1,733 | ) | $ | (50,849 | ) | |||||||
AFS securities | 3,694 | (3,524 | ) | 170 | (21,524 | ) | ||||||||||||
CO Bonds | 15,723 | (15,513 | ) | 210 | 21,904 | |||||||||||||
Total | $ | 10,524 | $ | (11,877 | ) | $ | (1,353 | ) | $ | (50,469 | ) | |||||||
Three Months Ended September 30, 2012 | ||||||||||||||||||
Advances | $ | (18,727 | ) | $ | 17,638 | $ | (1,089 | ) | $ | (58,171 | ) | |||||||
AFS securities | (15,789 | ) | 16,087 | 298 | (20,157 | ) | ||||||||||||
CO Bonds | 7,182 | (8,364 | ) | (1,182 | ) | 12,570 | ||||||||||||
Total | $ | (27,334 | ) | $ | 25,361 | $ | (1,973 | ) | $ | (65,758 | ) | |||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||
Advances | $ | 197,316 | $ | (194,821 | ) | $ | 2,495 | $ | (160,667 | ) | ||||||||
AFS securities | 124,730 | (122,879 | ) | 1,851 | (64,457 | ) | ||||||||||||
CO Bonds | (97,336 | ) | 101,586 | 4,250 | 67,238 | |||||||||||||
Total | $ | 224,710 | $ | (216,114 | ) | $ | 8,596 | $ | (157,886 | ) | ||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||
Advances | $ | (50,374 | ) | $ | 48,256 | $ | (2,118 | ) | $ | (178,514 | ) | |||||||
AFS securities | (36,273 | ) | 37,519 | 1,246 | (55,995 | ) | ||||||||||||
CO Bonds | 19,118 | (20,671 | ) | (1,553 | ) | 42,397 | ||||||||||||
Total | $ | (67,529 | ) | $ | 65,104 | $ | (2,425 | ) | $ | (192,112 | ) | |||||||
(1) | The net interest on derivatives in fair-value hedging relationships is recorded in the Interest Income / Interest Expense line item of the respective hedged item, which results in fully offsetting amounts, except to the extent of any hedge ineffectiveness. |
Deposits_Tables
Deposits (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Deposits [Abstract] | ' | ||||||||
Summary of Deposits, by Type [Table Text Block] | ' | ||||||||
The following table presents Interest-Bearing and Non-Interest-Bearing Deposits: | |||||||||
Type of Deposits | September 30, | December 31, | |||||||
2013 | 2012 | ||||||||
Interest-Bearing: | |||||||||
Demand and overnight | $ | 834,605 | $ | 704,216 | |||||
Time | 3,000 | 2,250 | |||||||
Other | 22 | 22 | |||||||
Total Interest-Bearing | 837,627 | 706,488 | |||||||
Non-Interest-Bearing: | |||||||||
Demand (1) | 254,601 | 1,066,041 | |||||||
Other (2) | 22,281 | 14,622 | |||||||
Total Non-Interest Bearing | 276,882 | 1,080,663 | |||||||
Total Deposits | $ | 1,114,509 | $ | 1,787,151 | |||||
(1) | Represents principal and interest custodial accounts transferred to our Bank by a member for GSE remittance payments. | ||||||||
(2) | Includes pass-through deposit reserves from members. |
Consolidated_Obligations_Table
Consolidated Obligations (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||
Discount Notes [Table Text Block] | ' | ||||||||||||||
Our participation in Discount Notes, all of which are due within one year of issuance, was as follows: | |||||||||||||||
Discount Notes | September 30, | December 31, | |||||||||||||
2013 | 2012 | ||||||||||||||
Book value | $ | 7,804,773 | $ | 8,924,085 | |||||||||||
Par value | 7,806,128 | 8,925,828 | |||||||||||||
Weighted average effective interest rate | 0.1 | % | 0.15 | % | |||||||||||
CO Bonds Outstanding [Table Text Block] | ' | ||||||||||||||
The following table presents our participation in CO Bonds outstanding: | |||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||
Year of Contractual Maturity | Amount | WAIR% | Amount | WAIR% | |||||||||||
Due in 1 year or less | $ | 11,933,250 | 0.45 | $ | 14,083,675 | 0.54 | |||||||||
Due after 1 year through 2 years | 2,863,950 | 1.41 | 2,984,650 | 1.49 | |||||||||||
Due after 2 years through 3 years | 1,695,250 | 1.59 | 1,323,800 | 1.59 | |||||||||||
Due after 3 years through 4 years | 1,356,350 | 1.6 | 724,900 | 3.08 | |||||||||||
Due after 4 years through 5 years | 1,985,000 | 2.04 | 1,337,700 | 2.29 | |||||||||||
Thereafter | 7,821,800 | 2.86 | 6,881,450 | 3.11 | |||||||||||
Total CO Bonds, par value | 27,655,600 | 1.47 | 27,336,175 | 1.5 | |||||||||||
Unamortized premiums | 35,136 | 36,958 | |||||||||||||
Unamortized discounts | (16,188 | ) | (17,444 | ) | |||||||||||
Hedging adjustments | (51,428 | ) | 51,841 | ||||||||||||
Total CO Bonds | $ | 27,623,120 | $ | 27,407,530 | |||||||||||
CO Bonds by Redemption Feature [Table Text Block] | ' | ||||||||||||||
The following tables present our participation in CO Bonds outstanding by redemption feature and contractual maturity or next call date: | |||||||||||||||
Redemption Feature | September 30, | December 31, | |||||||||||||
2013 | 2012 | ||||||||||||||
Non-callable / non-putable | $ | 18,129,600 | $ | 19,952,175 | |||||||||||
Callable | 9,526,000 | 7,384,000 | |||||||||||||
Total CO Bonds, par value | $ | 27,655,600 | $ | 27,336,175 | |||||||||||
CO Bonds by Contractual Maturity or Next Call Date [Table Text Block] | ' | ||||||||||||||
Year of Contractual Maturity or Next Call Date | September 30, | December 31, | |||||||||||||
2013 | 2012 | ||||||||||||||
Due in 1 year or less | $ | 21,394,250 | $ | 21,097,675 | |||||||||||
Due after 1 year through 2 years | 1,888,950 | 1,694,650 | |||||||||||||
Due after 2 years through 3 years | 1,087,250 | 1,091,800 | |||||||||||||
Due after 3 years through 4 years | 440,350 | 513,900 | |||||||||||||
Due after 4 years through 5 years | 545,000 | 607,700 | |||||||||||||
Thereafter | 2,299,800 | 2,330,450 | |||||||||||||
Total CO Bonds, par value | $ | 27,655,600 | $ | 27,336,175 | |||||||||||
Affordable_Housing_Program_Tab
Affordable Housing Program (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Affordable Housing Program [Abstract] | ' | ||||||||||||||||
Schedule of Activity in Affordable Housing Program Obligation [Table Text Block] | ' | ||||||||||||||||
The following table summarizes the activity in our AHP funding obligation: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
AHP Activity | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Balance at beginning of period | $ | 41,050 | $ | 34,550 | $ | 34,362 | $ | 32,845 | |||||||||
Assessment (expense) | 3,442 | 4,056 | 16,066 | 13,157 | |||||||||||||
Subsidy usage, net (1) | (4,718 | ) | (4,059 | ) | (10,654 | ) | (11,455 | ) | |||||||||
Balance at end of period | $ | 39,774 | $ | 34,547 | $ | 39,774 | $ | 34,547 | |||||||||
(1) | Subsidies disbursed are reported net of returns of previously disbursed subsidies. |
Capital_Tables
Capital (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Capital [Abstract] | ' | ||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | ' | ||||||||||||||||
As presented in the following table, we were in compliance with the Finance Agency's capital requirements at September 30, 2013 and December 31, 2012. For regulatory purposes, AOCI is not considered capital; MRCS, however, is considered capital. | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Regulatory Capital Requirements | Required | Actual | Required | Actual | |||||||||||||
Risk-based capital | $ | 743,626 | $ | 2,625,924 | $ | 636,022 | $ | 2,676,616 | |||||||||
Regulatory permanent capital-to-asset ratio | 4 | % | 6.64 | % | 4 | % | 6.49 | % | |||||||||
Regulatory permanent capital | $ | 1,583,073 | $ | 2,625,924 | $ | 1,649,105 | $ | 2,676,616 | |||||||||
Leverage ratio | 5 | % | 9.95 | % | 5 | % | 9.74 | % | |||||||||
Leverage capital | $ | 1,978,842 | $ | 3,938,886 | $ | 2,061,382 | $ | 4,014,924 | |||||||||
MRCS Activity [Table Text Block] | ' | ||||||||||||||||
The following table presents the activity in MRCS: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
MRCS Activity | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Balance at beginning of period | $ | 255,720 | $ | 450,898 | $ | 450,716 | $ | 453,885 | |||||||||
Additions due to change in membership status | — | — | 95,441 | 3,513 | |||||||||||||
Redemptions/repurchases | (401 | ) | (182 | ) | (290,975 | ) | (6,709 | ) | |||||||||
Accrued dividends | — | — | 137 | 27 | |||||||||||||
Balance at end of period | $ | 255,319 | $ | 450,716 | $ | 255,319 | $ | 450,716 | |||||||||
Schedule of Mandatorily Redeemable Capital Stock by Contractual Year of Redemption [Table Text Block] | ' | ||||||||||||||||
The following table presents the amount of MRCS by contractual year of redemption. The year of redemption in the table is the later of the end of the five-year redemption period or the maturity date of the activity to which the stock is related, if the stock represents the activity-based stock purchase requirement of a non-member (a former member that withdrew from membership, merged into a non-member or was otherwise acquired by a non-member). | |||||||||||||||||
Contractual Year of Redemption | September 30, | December 31, | |||||||||||||||
2013 | 2012 | ||||||||||||||||
Year 1 | $ | 147,130 | $ | 268,512 | |||||||||||||
Year 2 | 502 | 144,644 | |||||||||||||||
Year 3 | 8,733 | 20,511 | |||||||||||||||
Year 4 | 3,513 | 13,536 | |||||||||||||||
Year 5 | 95,441 | 3,513 | |||||||||||||||
Total MRCS | $ | 255,319 | $ | 450,716 | |||||||||||||
Schedule of Distributions on Mandatorily Redeemable Capital Stock [Table Text Block] | ' | ||||||||||||||||
The following table presents the distributions on MRCS: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
MRCS Distributions | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Recorded as Interest Expense | $ | 2,225 | $ | 3,355 | $ | 6,713 | $ | 10,592 | |||||||||
Recorded as distributions from Retained Earnings | — | — | 137 | 27 | |||||||||||||
Total | $ | 2,225 | $ | 3,355 | $ | 6,850 | $ | 10,619 | |||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ||||||||||||||||||||
Schedule of Changes in the Components of AOCI [Table Text Block] | ' | ||||||||||||||||||||
The following table presents a summary of the changes in the components of AOCI for the three and nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||
AOCI Rollforward | Unrealized Gains (Losses) on AFS Securities (Note 3) | Non-Credit OTTI on AFS Securities (Note 3) | Non-Credit OTTI on HTM Securities | Pension Benefits | Total AOCI | ||||||||||||||||
(Note 4) | (Note 15) | ||||||||||||||||||||
Balance, June 30, 2012 | $ | 9,895 | $ | (79,157 | ) | $ | (350 | ) | $ | (10,098 | ) | $ | (79,710 | ) | |||||||
Total Other Comprehensive Income (Loss) | 3,606 | 35,626 | 18 | (570 | ) | 38,680 | |||||||||||||||
Balance, September 30, 2012 | $ | 13,501 | $ | (43,531 | ) | $ | (332 | ) | $ | (10,668 | ) | $ | (41,030 | ) | |||||||
Balance, December 31, 2011 | $ | 15,080 | $ | (119,274 | ) | $ | (392 | ) | $ | (8,955 | ) | $ | (113,541 | ) | |||||||
Total Other Comprehensive Income (Loss) | (1,579 | ) | 75,743 | 60 | (1,713 | ) | 72,511 | ||||||||||||||
Balance, September 30, 2012 | $ | 13,501 | $ | (43,531 | ) | $ | (332 | ) | $ | (10,668 | ) | $ | (41,030 | ) | |||||||
Balance, June 30, 2013 | $ | 475 | $ | 15,425 | $ | (275 | ) | $ | (11,698 | ) | $ | 3,927 | |||||||||
Other Comprehensive Income (Loss) before reclassifications: | |||||||||||||||||||||
Net change in unrealized gains (losses) | 2,392 | 2,474 | — | — | 4,866 | ||||||||||||||||
Net change in fair value | — | (84 | ) | — | — | (84 | ) | ||||||||||||||
Accretion of non-credit loss | — | — | 18 | — | 18 | ||||||||||||||||
Reclassifications from OCI to Net Income | |||||||||||||||||||||
Net (gains) losses on sold securities | — | — | — | — | — | ||||||||||||||||
Net Other-Than-Temporary Impairment Losses, credit portion | — | — | — | — | — | ||||||||||||||||
Compensation and Benefits | — | — | — | 6,175 | 6,175 | ||||||||||||||||
Total Other Comprehensive Income (Loss) | 2,392 | 2,390 | 18 | 6,175 | 10,975 | ||||||||||||||||
Balance, September 30, 2013 | $ | 2,867 | $ | 17,815 | $ | (257 | ) | $ | (5,523 | ) | $ | 14,902 | |||||||||
Balance, December 31, 2012 | $ | 12,335 | $ | (9,684 | ) | $ | (312 | ) | $ | (12,397 | ) | $ | (10,058 | ) | |||||||
Other Comprehensive Income (Loss) before reclassifications: | |||||||||||||||||||||
Net change in unrealized gains (losses) | (9,468 | ) | 7,615 | — | — | (1,853 | ) | ||||||||||||||
Net change in fair value | — | 35,095 | — | — | 35,095 | ||||||||||||||||
Accretion of non-credit loss | — | — | 55 | — | 55 | ||||||||||||||||
Reclassifications from OCI to Net Income | |||||||||||||||||||||
Net (gains) losses on sold securities | — | (17,135 | ) | — | — | (17,135 | ) | ||||||||||||||
Net Other-Than-Temporary Impairment Losses, credit portion | — | 1,924 | — | — | 1,924 | ||||||||||||||||
Compensation and Benefits | — | — | — | 6,874 | 6,874 | ||||||||||||||||
Total Other Comprehensive Income (Loss) | (9,468 | ) | 27,499 | 55 | 6,874 | 24,960 | |||||||||||||||
Balance, September 30, 2013 | $ | 2,867 | $ | 17,815 | $ | (257 | ) | $ | (5,523 | ) | $ | 14,902 | |||||||||
Employee_Retirement_and_Deferr1
Employee Retirement and Deferred Compensation Plans (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Net Periodic Benefit Costs [Table Text Block] | ' | ||||||||||||||||
Components of the net periodic benefit cost of our SERP were: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net Periodic Benefit Cost | |||||||||||||||||
Service cost | $ | 136 | $ | 224 | $ | 592 | $ | 667 | |||||||||
Interest cost | 112 | 205 | 520 | 611 | |||||||||||||
Amortization of prior service benefit | (3 | ) | (3 | ) | (8 | ) | (8 | ) | |||||||||
Amortization of net actuarial loss (gain) | 135 | 392 | 875 | 1,167 | |||||||||||||
Net periodic benefit cost | 380 | 818 | 1,979 | 2,437 | |||||||||||||
Settlement loss | 5,093 | — | 5,093 | — | |||||||||||||
Total expense recorded in Compensation and Benefits | 5,473 | 818 | 7,072 | 2,437 | |||||||||||||
Net loss (income) recognized in OCI | (6,175 | ) | 570 | (6,874 | ) | 1,713 | |||||||||||
Total recognized in Compensation and Benefits and in OCI | $ | (702 | ) | $ | 1,388 | $ | 198 | $ | 4,150 | ||||||||
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Financial Performance by Operating Segment [Table Text Block] | ' | ||||||||||||||||||||||||
The following table presents our financial performance by operating segment: | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2013 | Traditional | Mortgage Loans | Total | Traditional | Mortgage Loans | Total | |||||||||||||||||||
Net Interest Income | $ | 34,486 | $ | 17,640 | $ | 52,126 | $ | 112,715 | $ | 60,418 | $ | 173,133 | |||||||||||||
Provision for (Reversal of) Credit Losses | — | 314 | 314 | — | (3,451 | ) | (3,451 | ) | |||||||||||||||||
Other Income (Loss) | (856 | ) | 1,407 | 551 | 27,359 | 1,104 | 28,463 | ||||||||||||||||||
Other Expenses | 18,324 | 1,841 | 20,165 | 46,347 | 4,751 | 51,098 | |||||||||||||||||||
Income Before Assessments | 15,306 | 16,892 | 32,198 | 93,727 | 60,222 | 153,949 | |||||||||||||||||||
Affordable Housing Program Assessments | 1,753 | 1,689 | 3,442 | 10,044 | 6,022 | 16,066 | |||||||||||||||||||
Net Income | $ | 13,553 | $ | 15,203 | $ | 28,756 | $ | 83,683 | $ | 54,200 | $ | 137,883 | |||||||||||||
September 30, 2012 | |||||||||||||||||||||||||
Net Interest Income | $ | 40,841 | $ | 18,241 | $ | 59,082 | $ | 124,488 | $ | 56,860 | $ | 181,348 | |||||||||||||
Provision for (Reversal of) Credit Losses | — | 5,634 | 5,634 | — | 7,917 | 7,917 | |||||||||||||||||||
Other Income (Loss) | (1,336 | ) | (832 | ) | (2,168 | ) | (4,967 | ) | (3,688 | ) | (8,655 | ) | |||||||||||||
Other Expenses | 12,771 | 1,311 | 14,082 | 39,928 | 3,873 | 43,801 | |||||||||||||||||||
Income Before Assessments | 26,734 | 10,464 | 37,198 | 79,593 | 41,382 | 120,975 | |||||||||||||||||||
Affordable Housing Program Assessments | 3,010 | 1,046 | 4,056 | 9,019 | 4,138 | 13,157 | |||||||||||||||||||
Net Income | $ | 23,724 | $ | 9,418 | $ | 33,142 | $ | 70,574 | $ | 37,244 | $ | 107,818 | |||||||||||||
Schedule of Segment Assets by Segment [Table Text Block] | ' | ||||||||||||||||||||||||
The following table presents asset balances by segment: | |||||||||||||||||||||||||
By Date | Traditional | Mortgage Loans | Total | ||||||||||||||||||||||
September 30, 2013 | $ | 33,417,188 | $ | 6,159,647 | $ | 39,576,835 | |||||||||||||||||||
December 31, 2012 | 35,226,231 | 6,001,405 | 41,227,636 | ||||||||||||||||||||||
Estimated_Fair_Values_Tables
Estimated Fair Values (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||||||||||
The following tables present the carrying value and estimated fair value of each of our financial assets and liabilities. The total of the estimated fair values does not represent an estimate of our overall market value as a going concern, which would take into account future business opportunities and the net profitability of assets and liabilities among other considerations. | |||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||
Carrying | Netting | ||||||||||||||||||||||||
Financial Instruments | Value | Total | Level 1 | Level 2 | Level 3 | Adjustment (1) | |||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Cash and Due from Banks | $ | 514,383 | $ | 514,383 | $ | 514,383 | $ | — | $ | — | $ | — | |||||||||||||
Interest-Bearing Deposits | 487 | 487 | — | 487 | — | — | |||||||||||||||||||
Securities Purchased Under Agreements to Resell | 2,700,000 | 2,700,000 | — | 2,700,000 | — | — | |||||||||||||||||||
Federal Funds Sold | 245,000 | 245,000 | — | 245,000 | — | — | |||||||||||||||||||
AFS securities | 3,688,783 | 3,688,783 | — | 3,200,214 | 488,569 | — | |||||||||||||||||||
HTM securities | 7,321,459 | 7,437,226 | — | 7,260,140 | 177,086 | — | |||||||||||||||||||
Advances | 18,796,297 | 18,900,794 | — | 18,900,794 | — | — | |||||||||||||||||||
Mortgage Loans Held for Portfolio, net | 6,159,647 | 6,305,330 | — | 6,256,720 | 48,610 | — | |||||||||||||||||||
Accrued Interest Receivable | 81,966 | 81,966 | — | 81,966 | — | — | |||||||||||||||||||
Derivative Assets, net | 7,655 | 7,655 | — | 115,613 | — | (107,958 | ) | ||||||||||||||||||
Grantor Trust Assets (included in Other Assets) | 12,061 | 12,061 | 12,061 | — | — | — | |||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Deposits | 1,114,509 | 1,114,509 | — | 1,114,509 | — | — | |||||||||||||||||||
Consolidated Obligations: | |||||||||||||||||||||||||
Discount Notes | 7,804,773 | 7,806,128 | — | 7,806,128 | — | — | |||||||||||||||||||
CO Bonds | 27,623,120 | 27,710,117 | — | 27,710,117 | — | — | |||||||||||||||||||
Accrued Interest Payable | 94,866 | 94,866 | — | 94,866 | — | — | |||||||||||||||||||
Derivative Liabilities, net | 187,234 | 187,234 | — | 691,361 | — | (504,127 | ) | ||||||||||||||||||
MRCS | 255,319 | 255,319 | 255,319 | — | — | — | |||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||
Carrying | Netting | ||||||||||||||||||||||||
Financial Instruments | Value | Total | Level 1 | Level 2 | Level 3 | Adjustment (1) | |||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Cash and Due from Banks | $ | 105,472 | $ | 105,472 | $ | 105,472 | $ | — | $ | — | $ | — | |||||||||||||
Interest-Bearing Deposits | 48 | 48 | — | 48 | — | — | |||||||||||||||||||
Securities Purchased Under Agreements to Resell | 3,250,000 | 3,250,000 | — | 3,250,000 | — | — | |||||||||||||||||||
Federal Funds Sold | 2,110,000 | 2,110,000 | — | 2,110,000 | — | — | |||||||||||||||||||
AFS securities | 3,980,580 | 3,980,580 | — | 3,340,438 | 640,142 | — | |||||||||||||||||||
HTM securities | 7,504,643 | 7,738,596 | — | 7,490,101 | 248,495 | — | |||||||||||||||||||
Advances | 18,129,458 | 18,298,372 | — | 18,298,372 | — | — | |||||||||||||||||||
Mortgage Loans Held for Portfolio, net | 6,001,405 | 6,318,983 | — | 6,265,990 | 52,993 | — | |||||||||||||||||||
Accrued Interest Receivable | 87,455 | 87,455 | — | 87,455 | — | — | |||||||||||||||||||
Derivative Assets, net | 821 | 821 | — | 73,578 | — | (72,757 | ) | ||||||||||||||||||
Grantor Trust Assets (included in Other Assets) | 18,440 | 18,440 | 18,440 | — | — | — | |||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Deposits | 1,787,151 | 1,787,151 | — | 1,787,151 | — | — | |||||||||||||||||||
Consolidated Obligations: | |||||||||||||||||||||||||
Discount Notes | 8,924,085 | 8,925,828 | — | 8,925,828 | — | — | |||||||||||||||||||
CO Bonds | 27,407,530 | 28,162,392 | — | 28,162,392 | — | — | |||||||||||||||||||
Accrued Interest Payable | 87,777 | 87,777 | — | 87,777 | — | — | |||||||||||||||||||
Derivative Liabilities, net | 201,115 | 201,115 | — | 951,521 | — | (750,406 | ) | ||||||||||||||||||
MRCS | 450,716 | 450,716 | 450,716 | — | — | — | |||||||||||||||||||
(1) | Amounts represent the application of the netting requirements that allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparty. | ||||||||||||||||||||||||
Estimated Fair Value on a Recurring Basis [Table Text Block] | ' | ||||||||||||||||||||||||
The following tables present by level within the fair value hierarchy the estimated fair value of our financial assets and liabilities that are recorded at estimated fair value on a recurring basis on our Statement of Condition. We did not have any financial assets or liabilities recorded at estimated fair value on a non-recurring basis on our Statement of Condition as of September 30, 2013 or December 31, 2012. | |||||||||||||||||||||||||
Netting | |||||||||||||||||||||||||
September 30, 2013 | Total | Level 1 | Level 2 | Level 3 | Adjustment (1) | ||||||||||||||||||||
AFS securities: | |||||||||||||||||||||||||
GSE and TVA debentures | $ | 3,200,214 | $ | — | $ | 3,200,214 | $ | — | $ | — | |||||||||||||||
Private-label RMBS | 488,569 | — | — | 488,569 | — | ||||||||||||||||||||
Total AFS securities | 3,688,783 | — | 3,200,214 | 488,569 | — | ||||||||||||||||||||
Derivative Assets: | |||||||||||||||||||||||||
Interest-rate related | 6,408 | — | 114,366 | — | (107,958 | ) | |||||||||||||||||||
Interest-rate futures/forwards | — | — | — | — | — | ||||||||||||||||||||
MDCs | 1,247 | — | 1,247 | — | — | ||||||||||||||||||||
Total Derivative Assets, net | 7,655 | — | 115,613 | — | (107,958 | ) | |||||||||||||||||||
Grantor Trust Assets (included in Other Assets) | 12,061 | 12,061 | — | — | — | ||||||||||||||||||||
Total recurring assets at estimated fair value | $ | 3,708,499 | $ | 12,061 | $ | 3,315,827 | $ | 488,569 | $ | (107,958 | ) | ||||||||||||||
Derivative Liabilities: | |||||||||||||||||||||||||
Interest-rate related | $ | 184,755 | $ | — | $ | 688,882 | $ | — | $ | (504,127 | ) | ||||||||||||||
Interest-rate futures/forwards | 2,479 | — | 2,479 | — | — | ||||||||||||||||||||
MDCs | — | — | — | — | — | ||||||||||||||||||||
Total Derivative Liabilities, net | 187,234 | — | 691,361 | — | (504,127 | ) | |||||||||||||||||||
Total recurring liabilities at estimated fair value | $ | 187,234 | $ | — | $ | 691,361 | $ | — | $ | (504,127 | ) | ||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
AFS securities: | |||||||||||||||||||||||||
GSE and TVA debentures | $ | 3,340,438 | $ | — | $ | 3,340,438 | $ | — | $ | — | |||||||||||||||
Private-label RMBS | 640,142 | — | — | 640,142 | — | ||||||||||||||||||||
Total AFS securities | 3,980,580 | — | 3,340,438 | 640,142 | — | ||||||||||||||||||||
Derivative Assets: | |||||||||||||||||||||||||
Interest-rate related | 302 | — | 73,059 | — | (72,757 | ) | |||||||||||||||||||
Interest-rate futures/forwards | 230 | — | 230 | — | — | ||||||||||||||||||||
MDCs | 289 | — | 289 | — | — | ||||||||||||||||||||
Total Derivative Assets, net | 821 | — | 73,578 | — | (72,757 | ) | |||||||||||||||||||
Grantor Trust Assets (included in Other Assets) | 18,440 | 18,440 | — | — | — | ||||||||||||||||||||
Total recurring assets at estimated fair value | $ | 3,999,841 | $ | 18,440 | $ | 3,414,016 | $ | 640,142 | $ | (72,757 | ) | ||||||||||||||
Derivative Liabilities: | |||||||||||||||||||||||||
Interest-rate related | $ | 201,043 | $ | — | $ | 951,449 | $ | — | $ | (750,406 | ) | ||||||||||||||
Interest-rate futures/forwards | 43 | — | 43 | — | — | ||||||||||||||||||||
MDCs | 29 | — | 29 | — | — | ||||||||||||||||||||
Total Derivative Liabilities, net | 201,115 | — | 951,521 | — | (750,406 | ) | |||||||||||||||||||
Total recurring liabilities at estimated fair value | $ | 201,115 | $ | — | $ | 951,521 | $ | — | $ | (750,406 | ) | ||||||||||||||
(1) | Amounts represent the application of the netting requirements that allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparty. | ||||||||||||||||||||||||
Reconciliation of AFS Private-label RMBS Measured at Estimated Fair Value on a Recurring Basis using Level 3 Significant Inputs [Table Text Block] | ' | ||||||||||||||||||||||||
The table below presents a rollforward of our AFS private-label RMBS measured at estimated fair value on a recurring basis using Level 3 significant inputs. The estimated fair values for the private-label RMBS were valued using a pricing source, such as a dealer quote or comparable security price, for which the significant unobservable inputs used to determine the price were not reasonably available. | |||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||
Level 3 Rollforward | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Balance, beginning of period | $ | 511,952 | $ | 602,975 | $ | 640,142 | $ | 601,309 | |||||||||||||||||
Total realized and unrealized gains (losses): | |||||||||||||||||||||||||
Accretion of credit losses in Net Interest Income | 37 | 89 | 95 | 644 | |||||||||||||||||||||
Net gains (losses) on changes in fair value in Other Income (Loss) | — | (14 | ) | — | (3,592 | ) | |||||||||||||||||||
Net change in fair value not in excess of cumulative non-credit losses in OCI | (84 | ) | 32,311 | 12,625 | 64,096 | ||||||||||||||||||||
Unrealized gains (losses) in OCI | 2,474 | 3,301 | 16,843 | 8,055 | |||||||||||||||||||||
Reclassification of non-credit portion in OCI to Other Income (Loss) | — | 14 | — | 3,592 | |||||||||||||||||||||
Purchases, issuances, sales and settlements: | |||||||||||||||||||||||||
Settlements | (25,810 | ) | (17,735 | ) | (56,957 | ) | (53,163 | ) | |||||||||||||||||
Transfers out | — | — | (124,179 | ) | — | ||||||||||||||||||||
Balance, end of period | $ | 488,569 | $ | 620,941 | $ | 488,569 | $ | 620,941 | |||||||||||||||||
Net gains (losses) included in earnings attributable to changes in fair value relating to assets still held at end of period | $ | 37 | $ | 75 | $ | 95 | $ | (2,948 | ) | ||||||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||
Off-Balance Sheet Commitments [Table Text Block] | ' | ||||||||||||
The following table presents our off-balance-sheet commitments at their notional amounts: | |||||||||||||
September 30, 2013 | |||||||||||||
By Commitment | Expire within one year | Expire after one year | Total | ||||||||||
Standby letters of credit outstanding | $ | 112,594 | $ | 153,433 | $ | 266,027 | |||||||
Unused lines of credit | 793,552 | — | 793,552 | ||||||||||
Commitments to fund additional Advances (1) | 20,550 | — | 20,550 | ||||||||||
Commitments to fund or purchase mortgage loans and participation interests | 101,983 | — | 101,983 | ||||||||||
Unsettled CO Bonds, at par (2) | 1,010,000 | — | 1,010,000 | ||||||||||
(1) | Commitments to fund additional Advances are generally for periods up to six months and include no outstanding commitments to issue standby letters of credit. | ||||||||||||
(2) | Unsettled CO Bonds of $1,000,000 were hedged with associated interest-rate swaps. |
Transactions_with_Related_Part1
Transactions with Related Parties (Tables) | 9 Months Ended | |||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||
Related Parties Holding 10% or more of our Capital Stock and MRCS [Member] | ' | |||||||||||||||||||||
Related Party Transaction [Line Items] | ' | |||||||||||||||||||||
Outstanding Balances with Respect to Transactions with Related Parties [Table Text Block] | ' | |||||||||||||||||||||
The following table presents the outstanding balances with respect to transactions with related parties and their balance as a percent of the total balance on our Statement of Condition. | ||||||||||||||||||||||
Capital Stock, including MRCS | Advances | Mortgage Loans Held for Portfolio (2) | ||||||||||||||||||||
September 30, 2013 | Balance, | % of Total | Balance, | % of Total | UPB | % of Total | ||||||||||||||||
par value | par value | |||||||||||||||||||||
Flagstar Bank, FSB | $ | 301,737 | 16 | % | $ | 2,907,598 | 16 | % | $ | 554,658 | 9 | % | ||||||||||
Total (1) | $ | 301,737 | 16 | % | $ | 2,907,598 | 16 | % | $ | 554,658 | 9 | % | ||||||||||
December 31, 2012 | ||||||||||||||||||||||
Flagstar Bank, FSB | $ | 301,737 | 14 | % | $ | 3,180,000 | 18 | % | $ | 656,931 | 11 | % | ||||||||||
Bank of America, N.A. (former member) | 224,921 | 11 | % | 300,000 | 2 | % | 1,210,009 | 20 | % | |||||||||||||
Total | $ | 526,658 | 25 | % | $ | 3,480,000 | 20 | % | $ | 1,866,940 | 31 | % | ||||||||||
(1) | Bank of America, N.A. did not meet the definition of a related party as of September 30, 2013 as a result of our repurchase of excess stock in February 2013. | |||||||||||||||||||||
(2) | Represents UPB of mortgage loans purchased from related party. | |||||||||||||||||||||
Net Advances to (Repayments from) Related Parties [Table Text Block] | ' | |||||||||||||||||||||
During the three and nine months ended September 30, 2013 and 2012, we had net Advances to (repayments from) related parties as follows: | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||
Related Party | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Flagstar Bank, FSB | $ | 7,598 | $ | (312,000 | ) | $ | (272,402 | ) | $ | (865,000 | ) | |||||||||||
Bank of America, N.A. (former member) (1) | — | — | — | (100,000 | ) | |||||||||||||||||
(1) | Bank of America, N.A. did not meet the definition of a related party following our repurchase of excess stock in February 2013. | |||||||||||||||||||||
Directors' Financial Institutions [Member] | ' | |||||||||||||||||||||
Related Party Transaction [Line Items] | ' | |||||||||||||||||||||
Outstanding Balances with Respect to Transactions with Related Parties [Table Text Block] | ' | |||||||||||||||||||||
The following table presents the outstanding balances with respect to transactions with directors' financial institutions and their balance as a percent of the total balance on our Statement of Condition. | ||||||||||||||||||||||
Capital Stock, including MRCS | Advances | Mortgage Loans Held for Portfolio (1) | ||||||||||||||||||||
Date | Balance, | % of Total | Balance, | % of Total | UPB | % of Total | ||||||||||||||||
par value | par value | |||||||||||||||||||||
September 30, 2013 | $ | 42,842 | 2 | % | $ | 238,815 | 1 | % | $ | 78,774 | 1 | % | ||||||||||
December 31, 2012 | 74,114 | 4 | % | 462,758 | 3 | % | 74,235 | 1 | % | |||||||||||||
(1) | Represents UPB of mortgage loans purchased from Directors' Financial Institutions. | |||||||||||||||||||||
Net Advances to (Repayments from) Related Parties [Table Text Block] | ' | |||||||||||||||||||||
During the three and nine months ended September 30, 2013 and 2012, net Advances to (repayments from) directors' financial institutions and mortgage loans acquired from directors' financial institutions, taking into account the dates of the directors' appointments and resignations, were as follows: | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||
Transactions with Directors' Financial Institutions | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Net Advances (repayments) | $ | 13,678 | $ | (18,931 | ) | $ | (108,340 | ) | $ | (21,717 | ) | |||||||||||
Mortgage loans acquired | 8,110 | 12,515 | 21,271 | 24,854 | ||||||||||||||||||
AvailableforSale_Securities_Na
Available-for-Sale Securities (Narrative) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Apr. 04, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | Private-Label RMBS [Member] | Private-Label RMBS [Member] | ||
Security | Security | |||
Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Net unamortized discounts on OTTI securities | $68,584 | $110,664 | ' | ' |
Number of AFS securities sold | ' | ' | 6 | 6 |
Number of AFS securities sold in unrealized loss position | ' | ' | ' | 1 |
AvailableforSale_Securities_Ma
Available-for-Sale Securities (Major Security Types) (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | ||
Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | $3,668,101 | [1] | $3,977,929 | [1] |
Non-Credit OTTI | -242 | -20,126 | ||
Gross Unrealized Gains | 26,703 | 23,449 | ||
Gross Unrealized Losses | -5,779 | -672 | ||
Available-for-Sale Securities (Notes 3 and 5) | 3,688,783 | 3,980,580 | ||
GSE and TVA debentures [Member] | ' | ' | ||
Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 3,197,347 | [1] | 3,328,103 | [1] |
Non-Credit OTTI | 0 | 0 | ||
Gross Unrealized Gains | 8,646 | 13,007 | ||
Gross Unrealized Losses | -5,779 | -672 | ||
Available-for-Sale Securities (Notes 3 and 5) | 3,200,214 | 3,340,438 | ||
Private-Label RMBS [Member] | ' | ' | ||
Available-for-sale Securities [Line Items] | ' | ' | ||
Amortized Cost | 470,754 | [1] | 649,826 | [1] |
Non-Credit OTTI | -242 | -20,126 | ||
Gross Unrealized Gains | 18,057 | 10,442 | ||
Gross Unrealized Losses | 0 | 0 | ||
Available-for-Sale Securities (Notes 3 and 5) | $488,569 | $640,142 | ||
[1] | Amortized cost of AFS securities includes adjustments made to the cost basis of an investment for accretion, amortization, collection of principal, and, if applicable, OTTI recognized in earnings (credit losses) and fair-value hedge accounting adjustments. |
AvailableforSale_Securities_Un
Available-for-Sale Securities (Unrealized Loss Positions) (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 Months, Estimated Fair Value | $998,420 | $398,265 |
Less than 12 Months, Unrealized Losses | -5,779 | -672 |
12 Months or More, Estimated Fair Value | 7,719 | 471,359 |
12 Months or More, Unrealized Losses | -242 | -20,126 |
Total Estimated Fair Value | 1,006,139 | 869,624 |
Total Unrealized Losses | -6,021 | -20,798 |
GSE and TVA debentures [Member] | ' | ' |
Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 Months, Estimated Fair Value | 998,420 | 398,265 |
Less than 12 Months, Unrealized Losses | -5,779 | -672 |
12 Months or More, Estimated Fair Value | 0 | 0 |
12 Months or More, Unrealized Losses | 0 | 0 |
Total Estimated Fair Value | 998,420 | 398,265 |
Total Unrealized Losses | -5,779 | -672 |
Private-Label RMBS [Member] | ' | ' |
Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 Months, Estimated Fair Value | 0 | 0 |
Less than 12 Months, Unrealized Losses | 0 | 0 |
12 Months or More, Estimated Fair Value | 7,719 | 471,359 |
12 Months or More, Unrealized Losses | -242 | -20,126 |
Total Estimated Fair Value | 7,719 | 471,359 |
Total Unrealized Losses | ($242) | ($20,126) |
AvailableforSale_Securities_Re
Available-for-Sale Securities (Redemption Terms) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost Basis | $3,668,101 | $3,977,929 |
Estimated Fair Value | 3,688,783 | 3,980,580 |
Non-MBS [Member] | ' | ' |
Available-for-sale Securities [Line Items] | ' | ' |
Due in One Year or Less, Amortized Cost | 0 | 0 |
Due in One Year or Less, Estimated Fair Value | 0 | 0 |
Due after One Year Through Five Years, Amortized Cost | 2,040,424 | 2,038,791 |
Due after One Year Through Five Years, Estimated Fair Value | 2,048,487 | 2,048,429 |
Due after Five Years Through Ten Years, Amortized Cost | 1,123,231 | 1,197,884 |
Due after Five Years Through Ten Years, Estimated Fair Value | 1,118,511 | 1,200,979 |
Due after Ten Years, Amortized Cost | 33,692 | 91,428 |
Due after Ten Years, Estimated Fair Value | 33,216 | 91,030 |
Amortized Cost Basis | 3,197,347 | 3,328,103 |
Estimated Fair Value | 3,200,214 | 3,340,438 |
MBS [Member] | ' | ' |
Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost Basis | 470,754 | 649,826 |
Estimated Fair Value | $488,569 | $640,142 |
AvailableforSale_Securities_Re1
Available-for-Sale Securities (Realized Gains and Losses) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Available-for-sale Securities [Abstract] | ' | ' | ' | ' |
Proceeds from sale | $0 | $0 | $129,471 | $0 |
Previously recognized OTTI credit losses including accretion | 0 | 0 | 38,806 | 0 |
Gross realized gains | 0 | 0 | 17,135 | 0 |
Gross realized losses | 0 | 0 | 0 | 0 |
Net Realized Gains from Sale of Available-for-Sale Securities | $0 | $0 | $17,135 | $0 |
HeldtoMaturity_Securities_Majo
Held-to-Maturity Securities (Major Security Types) (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Amortized Cost | $7,321,716 | [1] | $7,504,955 | [1] |
Non-Credit OTTI | -257 | -312 | ||
Carrying Value | 7,321,459 | [2] | 7,504,643 | [2] |
Gross Unrecognized Holding Gains | 136,027 | [3] | 240,567 | [3] |
Gross Unrecognized Holding Losses | -20,260 | [3] | -6,614 | [3] |
Estimated Fair Value | 7,437,226 | 7,738,596 | ||
GSE Debentures [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Amortized Cost | 268,998 | [1] | 268,996 | [1] |
Non-Credit OTTI | 0 | 0 | ||
Carrying Value | 268,998 | [2] | 268,996 | [2] |
Gross Unrecognized Holding Gains | 663 | [3] | 357 | [3] |
Gross Unrecognized Holding Losses | 0 | [3] | 0 | [3] |
Estimated Fair Value | 269,661 | 269,353 | ||
Non-MBS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Carrying Value | 268,998 | [2] | 268,996 | [2] |
Estimated Fair Value | 269,661 | 269,353 | ||
Other US Obligations - Guaranteed RMBS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Amortized Cost | 3,090,243 | [1] | 3,123,784 | [1] |
Non-Credit OTTI | 0 | 0 | ||
Carrying Value | 3,090,243 | [2] | 3,123,784 | [2] |
Gross Unrecognized Holding Gains | 53,058 | [3] | 84,169 | [3] |
Gross Unrecognized Holding Losses | -11,493 | [3] | -1,345 | [3] |
Estimated Fair Value | 3,131,808 | 3,206,608 | ||
GSE RMBS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Amortized Cost | 3,781,786 | [1] | 3,859,172 | [1] |
Non-Credit OTTI | 0 | 0 | ||
Carrying Value | 3,781,786 | [2] | 3,859,172 | [2] |
Gross Unrecognized Holding Gains | 81,713 | [3] | 155,044 | [3] |
Gross Unrecognized Holding Losses | -4,828 | [3] | -76 | [3] |
Estimated Fair Value | 3,858,671 | 4,014,140 | ||
Private-Label RMBS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Amortized Cost | 165,093 | [1] | 235,778 | [1] |
Non-Credit OTTI | 0 | 0 | ||
Carrying Value | 165,093 | [2] | 235,778 | [2] |
Gross Unrecognized Holding Gains | 488 | [3] | 992 | [3] |
Gross Unrecognized Holding Losses | -1,802 | [3] | -2,577 | [3] |
Estimated Fair Value | 163,779 | 234,193 | ||
Manufactured Housing Loan ABS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Amortized Cost | 13,410 | [1] | 14,779 | [1] |
Non-Credit OTTI | 0 | 0 | ||
Carrying Value | 13,410 | [2] | 14,779 | [2] |
Gross Unrecognized Holding Gains | 0 | [3] | 0 | [3] |
Gross Unrecognized Holding Losses | -2,010 | [3] | -2,276 | [3] |
Estimated Fair Value | 11,400 | 12,503 | ||
Home Equity Loan ABS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Amortized Cost | 2,186 | [1] | 2,446 | [1] |
Non-Credit OTTI | -257 | -312 | ||
Carrying Value | 1,929 | [2] | 2,134 | [2] |
Gross Unrecognized Holding Gains | 105 | [3] | 5 | [3] |
Gross Unrecognized Holding Losses | -127 | [3] | -340 | [3] |
Estimated Fair Value | 1,907 | 1,799 | ||
MBS and ABS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Amortized Cost | 7,052,718 | [1] | 7,235,959 | [1] |
Non-Credit OTTI | -257 | -312 | ||
Carrying Value | 7,052,461 | [2] | 7,235,647 | [2] |
Gross Unrecognized Holding Gains | 135,364 | [3] | 240,210 | [3] |
Gross Unrecognized Holding Losses | -20,260 | [3] | -6,614 | [3] |
Estimated Fair Value | $7,167,565 | $7,469,243 | ||
[1] | Amortized cost includes adjustments made to the cost basis of an investment for accretion, amortization, collection of principal, and, if applicable, OTTI recognized in earnings (credit losses). | |||
[2] | Carrying value of HTM securities represents amortized cost after adjustment for non-credit OTTI recognized in AOCI. | |||
[3] | Gross unrecognized holding gains (losses) represents the difference between estimated fair value and carrying value. |
HeldtoMaturity_Securities_Unre
Held-to-Maturity Securities (Unrealized Loss Position) (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Less than 12 Months, Estimated Fair Value | $2,822,028 | $406,267 | ||
Less than 12 Months, Unrealized Losses | -12,850 | -544 | ||
12 Months or More, Estimated Fair Value | 521,246 | 630,105 | ||
12 Months or More, Unrealized Losses | -7,562 | -6,377 | ||
Total Estimated Fair Value | 3,343,274 | 1,036,372 | ||
Total Unrealized Losses | -20,412 | [1] | -6,921 | [1] |
Other US Obligations - Guaranteed RMBS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Less than 12 Months, Estimated Fair Value | 1,415,791 | 274,784 | ||
Less than 12 Months, Unrealized Losses | -7,734 | -432 | ||
12 Months or More, Estimated Fair Value | 435,953 | 460,152 | ||
12 Months or More, Unrealized Losses | -3,759 | -913 | ||
Total Estimated Fair Value | 1,851,744 | 734,936 | ||
Total Unrealized Losses | -11,493 | [1] | -1,345 | [1] |
GSE RMBS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Less than 12 Months, Estimated Fair Value | 1,357,575 | 124,225 | ||
Less than 12 Months, Unrealized Losses | -4,805 | -76 | ||
12 Months or More, Estimated Fair Value | 7,590 | 0 | ||
12 Months or More, Unrealized Losses | -23 | 0 | ||
Total Estimated Fair Value | 1,365,165 | 124,225 | ||
Total Unrealized Losses | -4,828 | [1] | -76 | [1] |
Private-Label RMBS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Less than 12 Months, Estimated Fair Value | 48,662 | 7,258 | ||
Less than 12 Months, Unrealized Losses | -311 | -36 | ||
12 Months or More, Estimated Fair Value | 64,397 | 155,651 | ||
12 Months or More, Unrealized Losses | -1,491 | -2,541 | ||
Total Estimated Fair Value | 113,059 | 162,909 | ||
Total Unrealized Losses | -1,802 | [1] | -2,577 | [1] |
Manufactured Housing Loan ABS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Less than 12 Months, Estimated Fair Value | 0 | 0 | ||
Less than 12 Months, Unrealized Losses | 0 | 0 | ||
12 Months or More, Estimated Fair Value | 11,399 | 12,503 | ||
12 Months or More, Unrealized Losses | -2,010 | -2,276 | ||
Total Estimated Fair Value | 11,399 | 12,503 | ||
Total Unrealized Losses | -2,010 | [1] | -2,276 | [1] |
Home Equity Loan ABS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Less than 12 Months, Estimated Fair Value | 0 | 0 | ||
Less than 12 Months, Unrealized Losses | 0 | 0 | ||
12 Months or More, Estimated Fair Value | 1,907 | 1,799 | ||
12 Months or More, Unrealized Losses | -279 | -647 | ||
Total Estimated Fair Value | 1,907 | 1,799 | ||
Total Unrealized Losses | -279 | [1] | -647 | [1] |
MBS and ABS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Less than 12 Months, Estimated Fair Value | 2,822,028 | 406,267 | ||
Less than 12 Months, Unrealized Losses | -12,850 | -544 | ||
12 Months or More, Estimated Fair Value | 521,246 | 630,105 | ||
12 Months or More, Unrealized Losses | -7,562 | -6,377 | ||
Total Estimated Fair Value | 3,343,274 | 1,036,372 | ||
Total Unrealized Losses | ($20,412) | [1] | ($6,921) | [1] |
[1] | Total unrealized losses on home equity loan ABS will not agree to total gross unrecognized holding losses. Total unrealized losses include non-credit-related OTTI losses recorded in AOCI and gross unrecognized holding gains on previously OTTI securities. |
HeldtoMaturity_Securities_Rede
Held-to-Maturity Securities (Redemption Terms)(Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Amortized Cost | $7,321,716 | [1] | $7,504,955 | [1] |
Carrying Value | 7,321,459 | [2] | 7,504,643 | [2] |
Estimated Fair Value | 7,437,226 | 7,738,596 | ||
Manufactured Housing Loan ABS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Carrying Value | 13,410 | [2] | 14,779 | [2] |
Estimated Fair Value | 11,400 | 12,503 | ||
Non-MBS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Due in One Year or Less, Amortized Cost | 0 | [1] | 0 | [1] |
Due in One Year or Less, Carrying Value | 0 | [2] | 0 | [2] |
Due in One Year or Less, Estimated Fair Value | 0 | 0 | ||
Due After One Year Through Five Years, Amortized Cost | 268,998 | [1] | 268,996 | [1] |
Due After One Year Through Five Years, Carrying Value | 268,998 | [2] | 268,996 | [2] |
Due After One Year Through Five Years, Estimated Fair Value | 269,661 | 269,353 | ||
Due After Five Through Ten Years, Amortized Cost | 0 | [1] | 0 | [1] |
Due After Five Through Ten Years, Carrying Value | 0 | [2] | 0 | [2] |
Due After Five Through Ten Years, Estimated Fair Value | 0 | 0 | ||
Due After Ten Years, Amortized Cost | 0 | [1] | 0 | [1] |
Due After Ten Years, Carrying Value | 0 | [2] | 0 | [2] |
Due After Ten Years, Estimated Fair Value | 0 | 0 | ||
Amortized Cost | 268,998 | [1] | 268,996 | [1] |
Carrying Value | 268,998 | [2] | 268,996 | [2] |
Estimated Fair Value | 269,661 | 269,353 | ||
MBS and ABS [Member] | ' | ' | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ||
Amortized Cost | 7,052,718 | 7,235,959 | [1] | |
Carrying Value | 7,052,461 | [2] | 7,235,647 | [2] |
Estimated Fair Value | $7,167,565 | $7,469,243 | ||
[1] | Amortized cost includes adjustments made to the cost basis of an investment for accretion, amortization, collection of principal, and, if applicable, OTTI recognized in earnings (credit losses). | |||
[2] | Carrying value of HTM securities represents amortized cost after adjustment for non-credit OTTI recognized in AOCI. |
HeldtoMaturity_Securities_Narr
Held-to-Maturity Securities (Narratives) (Details) (MBS and ABS [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
MBS and ABS [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Net premiums | $47,662 | $51,784 |
OtherThanTemporary_Impairments2
Other-Than-Temporary Impairments Analysis (Rollforward of the Cumulative Credit Losses) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Security | ||||
Other Than Temporary Impairments Analysis [Abstract] | ' | ' | ' | ' |
OTTI credit charge | ' | ' | $1,924 | ' |
Number of security changed previous intention to hold until recovery of amortized cost | ' | ' | 1 | ' |
Credit loss recognized in earnings as a result of calculations using the significant modeling assumptions | ' | 14 | 0 | 3,594 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ' | ' | ' | ' |
Balance at Beginning of Period | 72,287 | 109,214 | 109,169 | 105,636 |
Additions: | ' | ' | ' | ' |
Additional credit losses for which OTTI was previously recognized | 0 | 14 | 1,924 | 3,594 |
Reductions: | ' | ' | ' | ' |
Credit losses on securities sold, matured, paid down or prepaid | 0 | 0 | -30,506 | -2 |
Unamortized life-to-date credit losses on security that we intend to sell before recovery of its amortized cost basis | 0 | 0 | -8,300 | 0 |
Balance at End of Period | $72,287 | $109,228 | $72,287 | $109,228 |
OtherThanTemporary_Impairments3
Other-Than-Temporary Impairments Analysis (Securities with OTTI Losses) (Details) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Held-to-maturity Securities [Member] | ' |
Other than Temporary Impairment, Disclosure [Line Items] | ' |
OTTI Life-to-Date, UPB | $920 |
OTTI Life-to-Date, Amortized Cost | 884 |
OTTI Life-to-Date, Carrying Value | 627 |
OTTI Life-to-Date, Estimated Fair Value | 732 |
Available-for-sale Securities [Member] | ' |
Other than Temporary Impairment, Disclosure [Line Items] | ' |
OTTI Life-to-Date, UPB | 539,339 |
OTTI Life-to-Date, Amortized Cost | 470,754 |
OTTI Life-to-Date, Estimated Fair Value | 488,569 |
Prime [Member] | Held-to-maturity Securities [Member] | Private-Label RMBS [Member] | ' |
Other than Temporary Impairment, Disclosure [Line Items] | ' |
OTTI Life-to-Date, UPB | 0 |
OTTI Life-to-Date, Amortized Cost | 0 |
OTTI Life-to-Date, Carrying Value | 0 |
OTTI Life-to-Date, Estimated Fair Value | 0 |
Prime [Member] | Available-for-sale Securities [Member] | Private-Label RMBS [Member] | ' |
Other than Temporary Impairment, Disclosure [Line Items] | ' |
OTTI Life-to-Date, UPB | 539,339 |
OTTI Life-to-Date, Amortized Cost | 470,754 |
OTTI Life-to-Date, Estimated Fair Value | 488,569 |
Alt-A [Member] | Held-to-maturity Securities [Member] | Private-Label RMBS [Member] | ' |
Other than Temporary Impairment, Disclosure [Line Items] | ' |
OTTI Life-to-Date, UPB | 0 |
OTTI Life-to-Date, Amortized Cost | 0 |
OTTI Life-to-Date, Carrying Value | 0 |
OTTI Life-to-Date, Estimated Fair Value | 0 |
Alt-A [Member] | Available-for-sale Securities [Member] | Private-Label RMBS [Member] | ' |
Other than Temporary Impairment, Disclosure [Line Items] | ' |
OTTI Life-to-Date, UPB | 0 |
OTTI Life-to-Date, Amortized Cost | 0 |
OTTI Life-to-Date, Estimated Fair Value | 0 |
Subprime [Member] | Held-to-maturity Securities [Member] | Home Equity Loan ABS [Member] | ' |
Other than Temporary Impairment, Disclosure [Line Items] | ' |
OTTI Life-to-Date, UPB | 920 |
OTTI Life-to-Date, Amortized Cost | 884 |
OTTI Life-to-Date, Carrying Value | 627 |
OTTI Life-to-Date, Estimated Fair Value | 732 |
Subprime [Member] | Available-for-sale Securities [Member] | Home Equity Loan ABS [Member] | ' |
Other than Temporary Impairment, Disclosure [Line Items] | ' |
OTTI Life-to-Date, UPB | 0 |
OTTI Life-to-Date, Amortized Cost | 0 |
OTTI Life-to-Date, Estimated Fair Value | $0 |
Advances_Details
Advances (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Advances [Line Items] | ' | ' |
Callable Federal Home Loan Bank Advances | $3,700,000,000 | $3,700,000,000 |
Redemption Terms [Abstract] | ' | ' |
Overdrawn demand and overnight deposit accounts, Amount | 17,000 | 15,004,000 |
Overdrawn demand and overnight deposit accounts,WAIR % | 2.50% | 2.50% |
Due in 1 year or less, Amount | 4,184,443,000 | 3,761,551,000 |
Due in 1 year or less, WAIR % | 0.67% | 1.57% |
Due after 1 year through 2 years, Amount | 2,019,963,000 | 1,365,251,000 |
Due after 1 year through 2 years, WAIR % | 2.56% | 2.66% |
Due after 2 years through 3 years, Amount | 3,832,451,000 | 2,287,033,000 |
Due after 2 years through 3 years, WAIR % | 2.40% | 3.11% |
Due after 3 years through 4 years, Amount | 2,969,219,000 | 3,435,097,000 |
Due after 3 years through 4 years. WAIR % | 2.35% | 2.61% |
Due after 4 years through 5 years, Amount | 2,027,387,000 | 2,448,083,000 |
Due after 4 years through 5 years, WAIR % | 2.23% | 2.22% |
Thereafter, Amount | 3,332,013,000 | 4,070,200,000 |
Thereafter, WAIR % | 2.04% | 2.49% |
Total Advances, par value | 18,365,493,000 | 17,382,219,000 |
Total Advances, WAIR % | 1.93% | 2.38% |
Unamortized discounts (including AHP) | -3,220,000 | -1,284,000 |
Hedging adjustments | 323,670,000 | 577,225,000 |
Unamortized swap termination fees associated with modified Advances | 110,354,000 | 171,298,000 |
Total Advances | 18,796,297,000 | 18,129,458,000 |
Advances by the Earlier of Contractual Maturity or Next Call Date or Next Put Date [Abstract] | ' | ' |
Overdrawn demand and overnight deposit accounts | 17,000 | 15,004,000 |
Year of Contractual Maturity or Next Call Date, Due in 1 year or less | 6,544,808,000 | 5,800,961,000 |
Year of Contractual Maturity or Next Put Date, Due in 1 year or less | 4,382,443,000 | 4,070,551,000 |
Year of Contractual Maturity or Next Call Date, Due after 1 year through 2 years | 1,996,713,000 | 1,348,251,000 |
Year of Contractual Maturity or Next Put Date, Due after 1 year through 2 years | 2,010,463,000 | 1,327,251,000 |
Year of Contractual Maturity or Next Call Date, Due after 2 years through 3 years | 3,896,451,000 | 2,163,783,000 |
Year of Contractual Maturity or Next Put Date, Due after 2 years through 3 years | 3,803,451,000 | 2,250,533,000 |
Year of Contractual Maturity or Next Call Date, Due after 3 years through 4 years | 2,736,469,000 | 3,539,097,000 |
Year of Contractual Maturity or Next Put Date, Due after 3 years through 4 years | 2,879,719,000 | 3,405,097,000 |
Year of Contractual Maturity or Next Call Date, Due after 4 years through 5 years | 1,812,387,000 | 2,310,333,000 |
Year of Contractual Maturity or Next Put Date, Due after 4 years through 5 years | 1,977,387,000 | 2,328,583,000 |
Year of Contractual Maturity or Next Call Date, Thereafter | 1,378,648,000 | 2,204,790,000 |
Year of Contractual Maturity or Next Put Date, Thereafter | $3,312,013,000 | $3,985,200,000 |
Minimum [Member] | ' | ' |
Advances [Line Items] | ' | ' |
Interest rate of advances outstanding | 0.00% | ' |
Maximum [Member] | ' | ' |
Advances [Line Items] | ' | ' |
Interest rate of advances outstanding | 8.34% | ' |
Advances_Narratives_Details
Advances (Narratives) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Borrower | Borrower | Borrower | |||
Advances [Abstract] | ' | ' | ' | ' | ' |
Callable Federal Home Loan Bank Advances | $3,700,000,000 | ' | $3,700,000,000 | ' | $3,700,000,000 |
Putable advances outstanding | 204,000,000 | ' | 204,000,000 | ' | 351,500,000 |
Convertible Advances outstanding | 0 | ' | 0 | ' | 0 |
Prepayment fees | 273,000 | 5,067,000 | 31,114,000 | 12,737,000 | ' |
Gross advance prepayment fee deferred in the period | 197,000 | 17,973,000 | 12,132,000 | 44,864,000 | ' |
Advances outstanding, at par, to single borrowers with balances that were greater than or equal to $1.0 billion | 8,000,000,000 | ' | 8,000,000,000 | ' | 8,400,000,000 |
Advances to borrowers holding in excess of $1.0 billion per borrower, at par value, percentage of advances outstanding | 44.00% | ' | 44.00% | ' | 48.00% |
Number of borrowers holding in excess of $1.0 billion per borrower | 4 | ' | 4 | ' | 5 |
UPB of collateral to cover the Advances to these institutions | $15,200,000,000 | ' | $15,200,000,000 | ' | $17,900,000,000 |
Mortgage_Loans_Held_for_Portfo2
Mortgage Loans Held for Portfolio (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||
In Thousands, unless otherwise specified | Conventional [Member] | Conventional [Member] | Conventional [Member] | Conventional [Member] | Conventional [Member] | Conventional [Member] | Government [Member] | Government [Member] | Fixed-rate Medium-term Mortgages [Member] | Fixed-rate Medium-term Mortgages [Member] | Fixed-rate Medium-term Mortgages [Member] | Fixed-rate Long-term Mortgages [Member] | Fixed-rate Long-term Mortgages [Member] | Fixed-rate Long-term Mortgages [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | ||||||||||||||
Maximum [Member] | Minimum [Member] | Conventional [Member] | Conventional [Member] | Conventional [Member] | Conventional [Member] | Conventional [Member] | Conventional [Member] | Government [Member] | Government [Member] | Fixed-rate Medium-term Mortgages [Member] | Fixed-rate Medium-term Mortgages [Member] | Fixed-rate Long-term Mortgages [Member] | Fixed-rate Long-term Mortgages [Member] | Conventional [Member] | Conventional [Member] | Conventional [Member] | Conventional [Member] | Conventional [Member] | Conventional [Member] | Government [Member] | Government [Member] | Fixed-rate Medium-term Mortgages [Member] | Fixed-rate Medium-term Mortgages [Member] | Fixed-rate Long-term Mortgages [Member] | Fixed-rate Long-term Mortgages [Member] | |||||||||||||||||||||||||||||||
Mortgage Loans on Real Estate [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Mortgage Loans Held for Portfolio, UPB | $6,061,373 | $5,926,144 | $5,198,655 | ' | $4,987,473 | ' | ' | ' | $862,718 | $938,671 | $1,109,818 | [1] | $1,001,958 | [1] | ' | $4,951,555 | [2] | $4,924,186 | [2] | ' | $5,546,127 | $5,695,964 | $4,786,021 | ' | $4,810,269 | ' | ' | ' | $760,106 | $885,695 | $1,026,871 | [1] | $960,944 | [1] | $4,519,256 | [2] | $4,735,020 | [2] | $515,246 | $230,180 | $412,634 | ' | $177,204 | ' | ' | ' | $102,612 | $52,976 | $82,947 | [1] | $41,014 | [1] | $432,299 | [2] | $189,166 | [2] |
Unamortized premiums | 112,861 | 87,782 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 102,325 | 81,459 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,536 | 6,323 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Unamortized discounts | -12,301 | -12,266 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -12,187 | -12,266 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -114 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Hedging adjustments | 3,214 | 9,745 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,891 | 8,859 | 3,101 | ' | 7,958 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -677 | 886 | -713 | ' | 819 | ' | ' | ' | 35 | 67 | ' | ' | ' | ' | ||||||||||||
Allowance for loan losses | -5,500 | -10,000 | -5,500 | -5,500 | -10,000 | -10,000 | -5,000 | -3,300 | ' | ' | ' | ' | ' | ' | ' | ' | -5,000 | -9,850 | -5,000 | -5,000 | -9,850 | -9,975 | -5,000 | -3,300 | ' | ' | ' | ' | ' | ' | -500 | -150 | -500 | -500 | -150 | -25 | 0 | 0 | ' | ' | ' | ' | ' | ' | ||||||||||||
Mortgage Loans Held for Portfolio, net | $6,159,647 | $6,001,405 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,635,156 | $5,764,166 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $524,491 | $237,239 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Original term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '15 years | ' | ' | '15 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
[1] | Medium-term is defined as a term of 15 years or less at origination. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Long-term is defined as a term greater than 15 years at origination. |
Allowance_for_Credit_Losses_Cr
Allowance for Credit Losses (Credit Enhancements) (Details) (USD $) | 9 Months Ended | ||||||||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPP [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | MPF [Member] | ||||
Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | Conventional Loan [Member] | ||||||||||||||
PMI [Member] | PMI [Member] | LRA [Member] | LRA [Member] | SMI [Member] | SMI [Member] | PMI and SMI [Member] | PMI and SMI [Member] | ||||||||||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction of recovery estimates associated with the expected amount of our claims for several providers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,685 | ' | $6,067 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated losses remaining after borrower's equity, before credit enhancements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35,963 | ' | 51,465 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Portion of estimated losses recoverable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,977 | -6,494 | -5,216 | -7,750 | -22,455 | -33,438 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for unrecoverable credit enhancement fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,685 | 6,067 | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for loan losses | 5,500 | ' | 10,000 | 5,500 | 5,500 | 10,000 | 10,000 | 5,000 | 3,300 | 5,000 | 9,850 | 5,000 | 5,000 | 9,850 | 9,975 | 5,000 | 3,300 | ' | ' | ' | ' | ' | ' | ' | ' | 500 | 150 | 500 | 500 | 150 | 25 | 0 | 0 |
Credit Enhancement Fund [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance of LRA, beginning of period | 33,693 | 23,408 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additions | 12,555 | 13,017 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Claim paid | -2,422 | -6,165 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions | -761 | -634 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance of LRA, end of period | 43,065 | 29,626 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exposure under FLA | 3,104 | ' | 1,157 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CE Obligations available to cover losses in excess of the FLA | 24,429 | ' | 8,607 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
FLA loss reduction | $153 | ' | $67 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance_for_Credit_Losses_MP
Allowance for Credit Losses (MPF Credit Enhancement Fees) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Receivables [Abstract] | ' | ' | ' | ' |
Gross credit enhancement paid to participating financing institutions | $90 | $1 | $207 | $1 |
Performance-based CE fees recovered from Participating Financial Institutions | 0 | 0 | 0 | 0 |
Credit Enhancement Fee Paid to Participating Financing Institutions, Net | $90 | $1 | $207 | $1 |
Allowance_for_Credit_Losses_Al
Allowance for Credit Losses (Allowance) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |||
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' | |||
Allowance for loan losses on mortgage loans, beginning of period | ' | ' | $10,000 | ' | ' | |||
Provision for (Reversal of) Credit Losses | 314 | 5,634 | -3,451 | 7,917 | ' | |||
Allowance for loan losses on mortgage loans, end of period | 5,500 | ' | 5,500 | ' | ' | |||
Total allowance for loan losses | 5,500 | ' | 5,500 | ' | ' | |||
Total recorded investment | 6,188,591 | ' | 6,188,591 | ' | 6,034,517 | |||
Conventional Loan [Member] | ' | ' | ' | ' | ' | |||
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' | |||
Allowance for loan losses on mortgage loans, beginning of period | 5,500 | 5,000 | 10,000 | 3,300 | ' | |||
Charge-offs | -314 | -634 | -1,049 | -1,217 | ' | |||
Provision for (Reversal of) Credit Losses | 314 | 5,634 | -3,451 | 7,917 | ' | |||
Allowance for loan losses on mortgage loans, end of period | 5,500 | 10,000 | 5,500 | 10,000 | ' | |||
Allowance for loan losses, loans collectively evaluated for impairment | 4,752 | ' | 4,752 | ' | 8,964 | |||
Allowance for loan losses, loans individually evaluated for impairment | 748 | [1] | ' | 748 | [1] | ' | 1,036 | [1] |
Total allowance for loan losses | 5,500 | 10,000 | 5,500 | 10,000 | ' | |||
Recorded Investment, loans collectively evaluated for impairment | 5,282,803 | ' | 5,282,803 | ' | 5,054,978 | |||
Recorded Investment, loans individually evaluated for impairment | 18,530 | [1] | ' | 18,530 | [1] | ' | 16,817 | [1] |
Total recorded investment | 5,301,333 | ' | 5,301,333 | ' | 5,071,795 | |||
Principal paid in full by servicers | 11,195 | ' | 11,195 | ' | 15,665 | |||
Potential claims included in allowance | 690 | ' | 690 | ' | 968 | |||
MPP [Member] | ' | ' | ' | ' | ' | |||
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' | |||
Allowance for loan losses on mortgage loans, beginning of period | ' | ' | ' | ' | 9,850 | |||
Allowance for loan losses on mortgage loans, end of period | 5,000 | ' | 5,000 | ' | 9,850 | |||
Total allowance for loan losses | 5,000 | ' | 5,000 | ' | 9,850 | |||
MPP [Member] | Conventional Loan [Member] | ' | ' | ' | ' | ' | |||
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' | |||
Allowance for loan losses on mortgage loans, beginning of period | 5,000 | 5,000 | 9,850 | 3,300 | ' | |||
Charge-offs | -314 | -634 | -1,049 | -1,217 | ' | |||
Provision for (Reversal of) Credit Losses | 314 | 5,609 | -3,801 | 7,892 | ' | |||
Allowance for loan losses on mortgage loans, end of period | 5,000 | 9,975 | 5,000 | 9,975 | ' | |||
Allowance for loan losses, loans collectively evaluated for impairment | 4,252 | ' | 4,252 | ' | 8,814 | |||
Allowance for loan losses, loans individually evaluated for impairment | 748 | [1] | ' | 748 | [1] | ' | 1,036 | [1] |
Total allowance for loan losses | 5,000 | 9,975 | 5,000 | 9,975 | ' | |||
Recorded Investment, loans collectively evaluated for impairment | 4,860,122 | ' | 4,860,122 | ' | 4,871,579 | |||
Recorded Investment, loans individually evaluated for impairment | 18,530 | [1] | ' | 18,530 | [1] | ' | 16,817 | [1] |
Total recorded investment | 4,878,652 | ' | 4,878,652 | ' | 4,888,396 | |||
MPF [Member] | ' | ' | ' | ' | ' | |||
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' | |||
Allowance for loan losses on mortgage loans, beginning of period | ' | ' | ' | ' | 150 | |||
Allowance for loan losses on mortgage loans, end of period | 500 | ' | 500 | ' | 150 | |||
Total allowance for loan losses | 500 | ' | 500 | ' | 150 | |||
MPF [Member] | Conventional Loan [Member] | ' | ' | ' | ' | ' | |||
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' | |||
Allowance for loan losses on mortgage loans, beginning of period | 500 | 0 | 150 | 0 | ' | |||
Charge-offs | 0 | 0 | 0 | 0 | ' | |||
Provision for (Reversal of) Credit Losses | 0 | 25 | 350 | 25 | ' | |||
Allowance for loan losses on mortgage loans, end of period | 500 | 25 | 500 | 25 | ' | |||
Allowance for loan losses, loans collectively evaluated for impairment | 500 | ' | 500 | ' | 150 | |||
Allowance for loan losses, loans individually evaluated for impairment | 0 | [1] | ' | 0 | [1] | ' | 0 | [1] |
Total allowance for loan losses | 500 | 25 | 500 | 25 | ' | |||
Recorded Investment, loans collectively evaluated for impairment | 422,681 | ' | 422,681 | ' | 183,399 | |||
Recorded Investment, loans individually evaluated for impairment | 0 | [1] | ' | 0 | [1] | ' | 0 | [1] |
Total recorded investment | $422,681 | ' | $422,681 | ' | $183,399 | |||
[1] | The recorded investment in our MPP conventional loans individually evaluated for impairment excludes potential claims by servicers as of SeptemberB 30, 2013 and DecemberB 31, 2012 for any losses resulting from past or future liquidations of the underlying properties on $11,195 and $15,665, respectively, of principal that was previously paid in full by the servicers. However, the MPP conventional loan allowance for loan losses includes $690 and $968 for these potential claims as of SeptemberB 30, 2013 and DecemberB 31, 2012, respectively. |
Allowance_for_Credit_Losses_Pa
Allowance for Credit Losses (Past Due) (Details) (USD $) | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Past due 30-59 days delinquent | $86,837 | $100,690 | ||
Past due 60-89 days delinquent | 26,782 | 33,847 | ||
Past due 90 days or more delinquent | 89,650 | 108,425 | ||
Total past due | 203,269 | 242,962 | ||
Total current | 5,985,322 | 5,791,555 | ||
Total recorded investment | 6,188,591 | 6,034,517 | ||
Net unamortized premiums | -100,560 | -75,516 | ||
Hedging adjustments | -3,214 | -9,745 | ||
Accrued interest receivable | -23,444 | -23,112 | ||
Mortgage Loans Held for Portfolio, UPB | 6,061,373 | 5,926,144 | ||
In process of foreclosure, included above | 52,541 | [1] | 75,317 | [1] |
Serious delinquency rate | 1.45% | [2] | 1.80% | [2] |
Past due 90 days or more still accruing interest | 89,118 | [3] | 108,246 | [3] |
On non-accrual status | 1,484 | 1,816 | ||
Delinquent loan receivable (in days) | '90 days | ' | ||
Conventional [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total recorded investment | 5,301,333 | 5,071,795 | ||
Mortgage Loans Held for Portfolio, UPB | 5,198,655 | 4,987,473 | ||
Government [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Mortgage Loans Held for Portfolio, UPB | 862,718 | 938,671 | ||
MPP [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Hedging adjustments | -3,891 | -8,859 | ||
Mortgage Loans Held for Portfolio, UPB | 5,546,127 | 5,695,964 | ||
MPP [Member] | Conventional [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Past due 30-59 days delinquent | 57,900 | 63,797 | ||
Past due 60-89 days delinquent | 17,743 | 25,050 | ||
Past due 90 days or more delinquent | 85,766 | 104,984 | ||
Total past due | 161,409 | 193,831 | ||
Total current | 4,717,243 | 4,694,565 | ||
Total recorded investment | 4,878,652 | 4,888,396 | ||
Net unamortized premiums | -71,190 | -51,202 | ||
Hedging adjustments | -3,101 | -7,958 | ||
Accrued interest receivable | -18,340 | -18,967 | ||
Mortgage Loans Held for Portfolio, UPB | 4,786,021 | 4,810,269 | ||
In process of foreclosure, included above | 52,541 | [1] | 75,317 | [1] |
Serious delinquency rate | 1.76% | [2] | 2.15% | [2] |
Past due 90 days or more still accruing interest | 85,363 | [3] | 104,805 | [3] |
On non-accrual status | 1,355 | 1,816 | ||
MPP [Member] | FHA Loans [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Past due 30-59 days delinquent | 27,876 | 36,522 | ||
Past due 60-89 days delinquent | 8,873 | 8,761 | ||
Past due 90 days or more delinquent | 3,502 | 3,440 | ||
Total past due | 40,251 | 48,723 | ||
Total current | 742,455 | 859,236 | ||
Total recorded investment | 782,706 | 907,959 | ||
Net unamortized premiums | -18,948 | -17,990 | ||
Hedging adjustments | -791 | -901 | ||
Accrued interest receivable | -2,861 | -3,373 | ||
Mortgage Loans Held for Portfolio, UPB | 760,106 | 885,695 | ||
In process of foreclosure, included above | 0 | [1] | 0 | [1] |
Serious delinquency rate | 0.45% | [2] | 0.38% | [2] |
Past due 90 days or more still accruing interest | 3,502 | [3] | 3,440 | [3] |
On non-accrual status | 0 | 0 | ||
MPP [Member] | Government [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Mortgage Loans Held for Portfolio, UPB | 760,106 | 885,695 | ||
MPF [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Hedging adjustments | 677 | -886 | ||
Mortgage Loans Held for Portfolio, UPB | 515,246 | 230,180 | ||
MPF [Member] | Conventional [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Past due 30-59 days delinquent | 229 | 293 | ||
Past due 60-89 days delinquent | 0 | 0 | ||
Past due 90 days or more delinquent | 129 | 1 | ||
Total past due | 358 | 294 | ||
Total current | 422,323 | 183,105 | ||
Total recorded investment | 422,681 | 183,399 | ||
Net unamortized premiums | -8,930 | -4,790 | ||
Hedging adjustments | 713 | -819 | ||
Accrued interest receivable | -1,830 | -586 | ||
Mortgage Loans Held for Portfolio, UPB | 412,634 | 177,204 | ||
In process of foreclosure, included above | 0 | [1] | 0 | [1] |
Serious delinquency rate | 0.03% | [2] | 0.00% | [2] |
Past due 90 days or more still accruing interest | 0 | [3] | 1 | [3] |
On non-accrual status | 129 | 0 | ||
MPF [Member] | Government [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Past due 30-59 days delinquent | 832 | 78 | ||
Past due 60-89 days delinquent | 166 | 36 | ||
Past due 90 days or more delinquent | 253 | 0 | ||
Total past due | 1,251 | 114 | ||
Total current | 103,301 | 54,649 | ||
Total recorded investment | 104,552 | 54,763 | ||
Net unamortized premiums | -1,492 | -1,534 | ||
Hedging adjustments | -35 | -67 | ||
Accrued interest receivable | -413 | -186 | ||
Mortgage Loans Held for Portfolio, UPB | 102,612 | 52,976 | ||
In process of foreclosure, included above | 0 | [1] | 0 | [1] |
Serious delinquency rate | 0.24% | [2] | 0.00% | [2] |
Past due 90 days or more still accruing interest | 253 | [3] | 0 | [3] |
On non-accrual status | $0 | $0 | ||
[1] | Includes loans for which the decision of foreclosure or similar alternative, such as pursuit of deed-in-lieu of foreclosure, has been reported. Loans in process of foreclosure are included in past due categories depending on their delinquency status. | |||
[2] | Represents loans 90 days or more past due (including loans in process of foreclosure) expressed as a percentage of the total recorded investment in mortgage loans. The percentage excludes principal amounts that were previously paid in full by the servicers on conventional loans that are pending resolution of potential loss claims. Many FHA loans are repurchased by the servicers when they reach 90 days or more delinquent status, similar to the rules for servicers of Ginnie Mae MBS, resulting in the lower serious delinquency rate for FHA loans. | |||
[3] | Although our past due scheduled/scheduled MPP loans are classified as loans past due 90 days or more based on the mortgagor's payment status, we do not consider these loans to be non-accrual. |
Allowance_for_Credit_Losses_Tr
Allowance for Credit Losses (Troubled Debt Restructuring) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' | |||||
Period of time principal or interest past due to have defaulted on troubled debt restructuring | ' | ' | '60 days | ' | ' | |||||
Recorded investment of loans modified as troubled debt restructurings that subsequently default | $366 | $1,013 | $911 | $3,751 | ' | |||||
MPP [Member] | Conventional [Member] | ' | ' | ' | ' | ' | |||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' | |||||
Financing Receivable, Modifications, Recorded Investment, Performing | 17,389 | ' | 17,389 | ' | 15,001 | |||||
Financing Receivable, Modifications, Recorded Investment, Non-Performing | 1,141 | [1] | ' | 1,141 | [1] | ' | 1,816 | [1] | ||
Recorded Investment | 18,530 | ' | 18,530 | ' | 16,817 | |||||
Pre-Modification Recorded Investment | 767 | 2,163 | 4,060 | 11,931 | ' | |||||
Post-Modification Recorded Investment | $802 | [2] | $2,325 | [2] | $4,306 | [2] | $12,843 | [2] | ' | |
[1] | Represents loans on non-accrual status only. | |||||||||
[2] | Includes the capitalization of interest previously received under scheduled/scheduled payment terms. |
Allowance_for_Credit_Losses_Im
Allowance for Credit Losses (Impaired Debt) (Details) (MPP [Member], Conventional [Member], USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
MPP [Member] | Conventional [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Conventional loans without allowance for loan losses, Recorded Investment | $17,389 | ' | $17,389 | ' | $15,001 |
Conventional loans with allowance for loan losses, Recorded Investment | 1,141 | ' | 1,141 | ' | 1,816 |
Total recorded investment | 18,530 | ' | 18,530 | ' | 16,817 |
Conventional loans without allowance for loan losses, UPB | 17,222 | ' | 17,222 | ' | 14,892 |
Conventional loans with allowance for loan losses, UPB | 1,116 | ' | 1,116 | ' | 1,783 |
Total UPB | 18,338 | ' | 18,338 | ' | 16,675 |
Allowance for loan losses | 58 | ' | 58 | ' | 68 |
Conventional Loans without Allowance, Average Recorded Investment | 17,447 | 11,438 | 16,396 | 6,975 | ' |
Conventional Loans without Allowance, Interest Income Recognized | 253 | 182 | 708 | 377 | ' |
Conventional Loans with Allowance, Average Recorded Investment | 1,143 | 2,404 | 1,142 | 1,519 | ' |
Conventional Loans with Allowance, Interest Income Recognized | 17 | 35 | 82 | 79 | ' |
Impaired Financing Receivable, Average Recorded Investment | 18,590 | 13,842 | 17,538 | 8,494 | ' |
Impaired Financing Receivable, Interest Income, Accrual Method | $270 | $217 | $790 | $456 | ' |
Derivative_and_Hedging_Activit2
Derivative and Hedging Activities (Derivatives in Statement of Condition) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Fair Value of Derivative Assets Designated as Hedging Instruments | $112,380 | $71,297 | ||
Fair Value of Derivative Liabilities Designated as Hedging Instruments | 688,543 | 951,216 | ||
Fair Value of Derivatives Assets Not Designated as Hedging Instruments | 3,233 | 2,281 | ||
Fair Value of Derivatives Liabilities Not Designated as Hedging Instruments | 2,818 | 305 | ||
Notional Amount of Derivatives | 34,272,736 | 34,027,328 | ||
Fair Value of Derivative Assets, Total derivatives before adjustments | 115,613 | 73,578 | ||
Fair Value of Derivative Liabilities, Total derivatives before adjustments | 691,361 | 951,521 | ||
Derivative Asset, Netting adjustments | -114,366 | -72,757 | ||
Derivative Liability, Netting adjustments | -114,366 | -72,757 | ||
Derivative Asset, Cash Collateral and Related Accrued Interest | 6,408 | 0 | ||
Derivative Liability, Cash Collateral and Related Accrued Interest | -389,761 | -677,649 | ||
Derivative Asset, Total adjustments | -107,958 | [1] | -72,757 | [1] |
Derivative Liability, Total adjustments | -504,127 | [1] | -750,406 | [1] |
Derivative Asset, net | 7,655 | 821 | ||
Derivative Liability, net | 187,234 | 201,115 | ||
Interest Rate Swaps [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Fair Value of Derivative Assets Designated as Hedging Instruments | 112,380 | [2] | 71,297 | |
Fair Value of Derivative Liabilities Designated as Hedging Instruments | 688,543 | [2] | 951,216 | |
Fair Value of Derivatives Assets Not Designated as Hedging Instruments | 792 | 757 | ||
Fair Value of Derivatives Liabilities Not Designated as Hedging Instruments | 339 | 233 | ||
Interest Rate Caps / Floors [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Fair Value of Derivatives Assets Not Designated as Hedging Instruments | 1,194 | 1,005 | ||
Fair Value of Derivatives Liabilities Not Designated as Hedging Instruments | 0 | 0 | ||
Interest Rate Futures / Forwards [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Fair Value of Derivatives Assets Not Designated as Hedging Instruments | 0 | 230 | ||
Fair Value of Derivatives Liabilities Not Designated as Hedging Instruments | 2,479 | 43 | ||
Mortgage Delivery Commitments [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Fair Value of Derivatives Assets Not Designated as Hedging Instruments | 1,247 | 289 | ||
Fair Value of Derivatives Liabilities Not Designated as Hedging Instruments | 0 | 29 | ||
Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Notional Amount of Derivatives | ' | 32,158,474 | ||
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Notional Amount of Derivatives | 31,866,210 | [2] | 32,158,474 | |
Not Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Notional Amount of Derivatives | 2,406,526 | 1,868,854 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Notional Amount of Derivatives | 1,859,743 | 1,214,179 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Caps / Floors [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Notional Amount of Derivatives | 340,500 | 340,500 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Futures / Forwards [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Notional Amount of Derivatives | 104,300 | 156,700 | ||
Not Designated as Hedging Instrument [Member] | Mortgage Delivery Commitments [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Notional Amount of Derivatives | 101,983 | 157,475 | ||
Designated as Hedging Instrument [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Notional Amount of Derivatives | $31,866,210 | ' | ||
[1] | Amounts represent the application of the netting requirements that allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparty. | |||
[2] | Includes all cleared derivatives. |
Derivative_and_Hedging_Activit3
Derivative and Hedging Activities (Credit Risk Exposure) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ||
Derivative Asset, Gross amounts of netting adjustments and cash collateral | ($107,958) | [1] | ($72,757) | [1] |
Derivative Liability, Gross amounts of netting adjustments and cash collateral | -504,127 | [1] | -750,406 | [1] |
Derivative Liability Subject to Master Netting Arrangement | 688,882 | 951,449 | ||
Derivative Asset Subject to Master Netting Arrangement | 114,366 | 73,059 | ||
Derivative Asset, Amount Offset Against Collateral and Netting | -107,958 | ' | ||
Derivative Liability, Amount Offset Against Collateral and Netting | -504,127 | ' | ||
Derivative Asset, Net amounts after offsetting adjustment | 6,408 | 302 | ||
Derivative Liability, Net amounts after offsetting adjustment | 184,755 | 201,043 | ||
Derivative Asset, Not Subject to Master Netting Arrangement | 1,247 | [2] | 519 | [2] |
Derivative Liability, Not Subject to Master Netting Arrangement | 2,479 | [2] | 72 | [2] |
Derivative Assets | 7,655 | 821 | ||
Derivative Liabilities | 187,234 | 201,115 | ||
Over the Counter [Member] | ' | ' | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ||
Derivative Asset, Gross amounts of netting adjustments and cash collateral | 113,128 | ' | ||
Derivative Liability, Gross amounts of netting adjustments and cash collateral | 686,087 | ' | ||
Derivative Asset, Amount Offset Against Collateral and Netting | -113,128 | ' | ||
Derivative Liability, Amount Offset Against Collateral and Netting | -501,332 | ' | ||
Derivative Asset, Net Fair Value Amount, After Offsetting Adjustment | 0 | ' | ||
Derivative Liability, Net Fair Value Amount, After Offsetting Adjustment | 184,755 | ' | ||
Exchange Cleared [Member] | ' | ' | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ||
Derivative Liability Subject to Master Netting Arrangement | 2,795 | ' | ||
Derivative Asset Subject to Master Netting Arrangement | 1,238 | ' | ||
Derivative Asset, Amount Offset Against Collateral and Netting | 5,170 | ' | ||
Derivative Liability, Amount Offset Against Collateral and Netting | -2,795 | ' | ||
Derivative Asset, Net Fair Value Amount, After Offsetting Adjustment | 6,408 | ' | ||
Derivative Liability, Net Fair Value Amount, After Offsetting Adjustment | $0 | ' | ||
[1] | Amounts represent the application of the netting requirements that allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparty. | |||
[2] | Includes MDCs and certain interest-rate futures or forwards. |
Derivative_and_Hedging_Activit4
Derivative and Hedging Activities (Derivatives in Statement of Income) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Total net gain (loss) related to fair-value hedge ineffectiveness | ($1,353) | ($1,973) | $8,596 | ($2,425) |
Total net gain (loss) on derivatives not designated as hedging instruments | 1,228 | -1,083 | 2,075 | -5,018 |
Net Gains (Losses) on Derivatives and Hedging Activities | -125 | -3,056 | 10,671 | -7,443 |
Interest Rate Swaps [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Total net gain (loss) related to fair-value hedge ineffectiveness | -1,353 | -1,973 | 8,596 | -2,425 |
Total net gain (loss) on derivatives not designated as hedging instruments | 62 | 91 | 5,002 | 294 |
Interest Rate Caps / Floors [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Total net gain (loss) on derivatives not designated as hedging instruments | -405 | -301 | 189 | -1,577 |
Interest Rate Futures / Forwards [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Total net gain (loss) on derivatives not designated as hedging instruments | 334 | -6,054 | 6,119 | -10,602 |
Net Interest Settlements [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Total net gain (loss) on derivatives not designated as hedging instruments | 194 | -41 | -4,063 | -47 |
Mortgage Delivery Commitments [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Total net gain (loss) on derivatives not designated as hedging instruments | $1,043 | $5,222 | ($5,172) | $6,914 |
Derivative_and_Hedging_Activit5
Derivative and Hedging Activities (Derivatives in Statement of Income and Impact on Interest) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) on Derivatives | $10,524 | ($27,334) | $224,710 | ($67,529) | ||||
Gain (Loss) on Hedged Item | -11,877 | 25,361 | -216,114 | 65,104 | ||||
Net Fair Value Hedge Ineffectiveness | -1,353 | -1,973 | 8,596 | -2,425 | ||||
Effect on Net Interest Income | -50,469 | [1] | -65,758 | [1] | -157,886 | [1] | -192,112 | [1] |
Advances [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) on Derivatives | -8,893 | -18,727 | 197,316 | -50,374 | ||||
Gain (Loss) on Hedged Item | 7,160 | 17,638 | -194,821 | 48,256 | ||||
Net Fair Value Hedge Ineffectiveness | -1,733 | -1,089 | 2,495 | -2,118 | ||||
Effect on Net Interest Income | -50,849 | [1] | -58,171 | [1] | -160,667 | [1] | -178,514 | [1] |
AFS Securities [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) on Derivatives | 3,694 | -15,789 | 124,730 | -36,273 | ||||
Gain (Loss) on Hedged Item | -3,524 | 16,087 | -122,879 | 37,519 | ||||
Net Fair Value Hedge Ineffectiveness | 170 | 298 | 1,851 | 1,246 | ||||
Effect on Net Interest Income | -21,524 | [1] | -20,157 | [1] | -64,457 | [1] | -55,995 | [1] |
CO Bonds [Member] | ' | ' | ' | ' | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||||
Gain (Loss) on Derivatives | 15,723 | 7,182 | -97,336 | 19,118 | ||||
Gain (Loss) on Hedged Item | -15,513 | -8,364 | 101,586 | -20,671 | ||||
Net Fair Value Hedge Ineffectiveness | 210 | -1,182 | 4,250 | -1,553 | ||||
Effect on Net Interest Income | $21,904 | [1] | $12,570 | [1] | $67,238 | [1] | $42,397 | [1] |
[1] | The net interest on derivatives in fair-value hedging relationships is recorded in the Interest Income / Interest Expense line item of the respective hedged item, which results in fully offsetting amounts, except to the extent of any hedge ineffectiveness. |
Derivative_and_Hedging_Activit6
Derivative and Hedging Activities (Narrative) (Details) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' |
Derivative, Net Liability Position, Aggregate Fair Value | $572,958 |
Collateral Already Posted, Aggregate Fair Value | 389,004 |
Derivative, Net Liability Position, Aggregate Fair Value, Not Subject to Credit Support Agreement | 2,479 |
Additional Collateral, Aggregate Fair Value | $41,304 |
Deposits_Details
Deposits (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Interest-Bearing: | ' | ' | ||
Demand and overnight | $834,605 | $704,216 | ||
Time | 3,000 | 2,250 | ||
Other | 22 | 22 | ||
Total Interest-Bearing | 837,627 | 706,488 | ||
Non-Interest-Bearing: | ' | ' | ||
Demand | 254,601 | [1] | 1,066,041 | [1] |
Other | 22,281 | [2] | 14,622 | [2] |
Total Non-Interest Bearing | 276,882 | 1,080,663 | ||
Total Deposits | $1,114,509 | $1,787,151 | ||
[1] | Represents principal and interest custodial accounts transferred to our Bank by a member for GSE remittance payments. | |||
[2] | Includes pass-through deposit reserves from members. |
Consolidated_Obligations_Detai
Consolidated Obligations (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Bank | ||
Schedule of Short-term and Long-term Debt [Line Items] | ' | ' |
Federal Home Loan Bank, Consolidated Obligations, Bonds, Due in One Year or Less | $11,933,250,000 | $14,083,675,000 |
Federal Home Loan Bank, Consolidated Obligations, Bonds | 27,623,120,000 | 27,407,530,000 |
Federal Home Loan Bank, Consolidated Obligations, Discount Notes | 7,804,773,000 | 8,924,085,000 |
Number of Federal Home Loan Banks | 12 | ' |
Discount Notes maturity period | '1 year | ' |
CO Bonds [Abstract] | ' | ' |
Federal Home Loan Bank, Consolidated Obligations, Bonds, Due in Year Two | 2,863,950,000 | 2,984,650,000 |
Federal Home Loan Bank, Consolidated Obligations, Bonds, Due in Year Three | 1,695,250,000 | 1,323,800,000 |
Federal Home Loan Bank, Consolidated Obligations, Bonds, Due in Year Four | 1,356,350,000 | 724,900,000 |
Federal Home Loan Bank, Consolidated Obligations, Bonds, Due in Year Five | 1,985,000,000 | 1,337,700,000 |
Federal Home Loan Bank, Consolidated Obligations, Bonds, Due After Year Five | 7,821,800,000 | 6,881,450,000 |
CO Bonds [Member] | ' | ' |
CO Bonds [Abstract] | ' | ' |
Due in 1 year or less, WAIR % | 0.45% | 0.54% |
Due after 1 year through 2 years, WAIR % | 1.41% | 1.49% |
Due after 2 years through 3 years, WAIR % | 1.59% | 1.59% |
Due after 3 years through 4 years, WAIR % | 1.60% | 3.08% |
Due after 4 years through 5 years, WAIR % | 2.04% | 2.29% |
Thereafter, WAIR % | 2.86% | 3.11% |
Total WAIR% | 1.47% | 1.50% |
Unamortized premiums | 35,136,000 | 36,958,000 |
Unamortized discounts | -16,188,000 | -17,444,000 |
Hedging adjustments | -51,428,000 | 51,841,000 |
Earlier of Contractual Maturity or Next Call Date [Member] | ' | ' |
Schedule of Short-term and Long-term Debt [Line Items] | ' | ' |
Federal Home Loan Bank, Consolidated Obligations, Bonds, Due in One Year or Less | 21,394,250,000 | 21,097,675,000 |
CO Bonds [Abstract] | ' | ' |
Federal Home Loan Bank, Consolidated Obligations, Bonds, Due in Year Two | 1,888,950,000 | 1,694,650,000 |
Federal Home Loan Bank, Consolidated Obligations, Bonds, Due in Year Three | 1,087,250,000 | 1,091,800,000 |
Federal Home Loan Bank, Consolidated Obligations, Bonds, Due in Year Four | 440,350,000 | 513,900,000 |
Federal Home Loan Bank, Consolidated Obligations, Bonds, Due in Year Five | 545,000,000 | 607,700,000 |
Federal Home Loan Bank, Consolidated Obligations, Bonds, Due After Year Five | 2,299,800,000 | 2,330,450,000 |
Non Callable / Non Putable [Member] | ' | ' |
Schedule of Short-term and Long-term Debt [Line Items] | ' | ' |
Federal Home Loan Bank, Consolidated Obligations, Bonds | 18,129,600,000 | 19,952,175,000 |
Callable [Member] | ' | ' |
Schedule of Short-term and Long-term Debt [Line Items] | ' | ' |
Federal Home Loan Bank, Consolidated Obligations, Bonds | 9,526,000,000 | 7,384,000,000 |
Discount Notes [Member] | ' | ' |
Discount Note [Abstract] | ' | ' |
Weighted average effective interest rate | 0.10% | 0.15% |
FHLBanks [Member] | ' | ' |
CO Bonds [Abstract] | ' | ' |
Debt, Gross | 720,700,000,000 | 687,900,000,000 |
Par Value [Member] | ' | ' |
Schedule of Short-term and Long-term Debt [Line Items] | ' | ' |
Federal Home Loan Bank, Consolidated Obligations, Bonds | 27,655,600,000 | 27,336,175,000 |
Federal Home Loan Bank, Consolidated Obligations, Discount Notes | 7,806,128,000 | 8,925,828,000 |
Carrying Value [Member] | ' | ' |
Schedule of Short-term and Long-term Debt [Line Items] | ' | ' |
Federal Home Loan Bank, Consolidated Obligations, Bonds | 27,623,120,000 | 27,407,530,000 |
Federal Home Loan Bank, Consolidated Obligations, Discount Notes | $7,804,773,000 | $8,924,085,000 |
Affordable_Housing_Program_Det
Affordable Housing Program (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Affordable Housing Program Funding Obligation [Roll Forward] | ' | ' | ' | ' | ||||
Balance at beginning of period | $41,050 | $34,550 | $34,362 | $32,845 | ||||
Assessment (expense) | 3,442 | 4,056 | 16,066 | 13,157 | ||||
Subsidy usage, net | -4,718 | [1] | -4,059 | [1] | -10,654 | [1] | -11,455 | [1] |
Balance at end of period | $39,774 | $34,547 | $39,774 | $34,547 | ||||
[1] | Subsidies disbursed are reported net of returns of previously disbursed subsidies. |
Capital_Details
Capital (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Member | Member | Institution | |||
Institution | Institution | Member | |||
Regulatory Capital Requirements [Abstract] | ' | ' | ' | ' | ' |
Risk-based capital, Required | $743,626 | ' | $743,626 | ' | $636,022 |
Risk-based capital, Actual | 2,625,924 | ' | 2,625,924 | ' | 2,676,616 |
Regulatory permanent capital-to-asset ratio, Required | 4.00% | ' | 4.00% | ' | 4.00% |
Regulatory permanent capital-to-asset ratio, Actual | 6.64% | ' | 6.64% | ' | 6.49% |
Regulatory permanent capital, Required | 1,583,073 | ' | 1,583,073 | ' | 1,649,105 |
Regulatory permanent capital, Actual | 2,625,924 | ' | 2,625,924 | ' | 2,676,616 |
Leverage ratio, Required | 5.00% | ' | 5.00% | ' | 5.00% |
Leverage ratio, Actual | 9.95% | ' | 9.95% | ' | 9.74% |
Leverage capital, Required | 1,978,842 | ' | 1,978,842 | ' | 2,061,382 |
Leverage capital, Actual | 3,938,886 | ' | 3,938,886 | ' | 4,014,924 |
Mandatorily Redeemable Capital Stock Acitvity [Roll Forward] | ' | ' | ' | ' | ' |
Balance at beginning of period | 255,720 | 450,898 | 450,716 | 453,885 | ' |
Additions due to change in membership status | 0 | 0 | 95,441 | 3,513 | ' |
Redemptions/repurchases | -401 | -182 | -290,975 | -6,709 | ' |
Accrued dividends | 0 | 0 | 137 | 27 | ' |
Balance at end of period | 255,319 | 450,716 | 255,319 | 450,716 | ' |
Number of former members holding MRCS | 17 | ' | 17 | ' | 27 |
Number of institutions acquired by FDIC holding MRCS | 0 | ' | 0 | ' | 8 |
Mandatorily redeemable capital stock repurchased | ' | ' | 614 | ' | ' |
Intended repurchase of excess stock held, par value | ' | ' | 250,000 | ' | ' |
Mandatorily Redeemable Capital Stock, by Contractual Year of Redemption [Abstract] | ' | ' | ' | ' | ' |
Year 1 | 147,130 | ' | 147,130 | ' | 268,512 |
Year 2 | 502 | ' | 502 | ' | 144,644 |
Year 3 | 8,733 | ' | 8,733 | ' | 20,511 |
Year 4 | 3,513 | ' | 3,513 | ' | 13,536 |
Year 5 | 95,441 | ' | 95,441 | ' | 3,513 |
Total MRCS | 255,319 | 450,716 | 255,319 | 450,716 | ' |
Recorded as Interest Expense | -2,225 | -3,355 | -6,713 | -10,592 | ' |
Recorded as distributions from Retained Earnings | 0 | 0 | 137 | 27 | ' |
Total | 2,225 | 3,355 | 6,850 | 10,619 | ' |
Excess and Surplus Capital Stock [Abstract] | ' | ' | ' | ' | ' |
Excess Capital to Assets Allowed | 1.00% | ' | 1.00% | ' | ' |
Excess Capital | 733,988 | ' | 733,988 | ' | ' |
Excess Capital to Assets | 1.90% | ' | 1.90% | ' | ' |
Member or former members [Member] | ' | ' | ' | ' | ' |
Mandatorily Redeemable Capital Stock Acitvity [Roll Forward] | ' | ' | ' | ' | ' |
Intended repurchase of excess stock held, par value | ' | ' | 250,000 | ' | ' |
Additional excess stock redeemed | ' | ' | $40,975 | ' | ' |
Stock repurchase redemption period | ' | ' | '5 years | ' | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | ' |
AOCI Balance, Beginning | ' | ' | ($10,058) | ' |
Net change in fair value | -84 | 32,311 | 35,095 | 64,096 |
Accretion of non-credit loss | 18 | 18 | 55 | 64 |
Net (gains) losses on sold securities | 0 | 0 | 17,135 | 0 |
Net Other-Than-Temporary Impairment Losses, credit portion | 0 | 14 | 1,924 | 3,592 |
Compensation and Benefits | 6,175 | -570 | 6,874 | -1,713 |
Total Other Comprehensive Income | 10,975 | 38,680 | 24,960 | 72,511 |
AOCI Balance, Ending | 14,902 | ' | 14,902 | ' |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | ' |
AOCI Balance, Beginning | 3,927 | -79,710 | -10,058 | -113,541 |
Net change in unrealized gains (losses) | 4,866 | ' | -1,853 | ' |
Net change in fair value | -84 | ' | 35,095 | ' |
Accretion of non-credit loss | 18 | ' | 55 | ' |
Net (gains) losses on sold securities | 0 | ' | -17,135 | ' |
Net Other-Than-Temporary Impairment Losses, credit portion | 0 | ' | 1,924 | ' |
Compensation and Benefits | 6,175 | ' | 6,874 | ' |
Total Other Comprehensive Income | 10,975 | 38,680 | 24,960 | 72,511 |
AOCI Balance, Ending | 14,902 | -41,030 | 14,902 | -41,030 |
Unrealized Gains (Losses) on Investments [Member] | Available-for-sale Securities [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | ' |
AOCI Balance, Beginning | 475 | 9,895 | 12,335 | 15,080 |
Net change in unrealized gains (losses) | 2,392 | ' | -9,468 | ' |
Total Other Comprehensive Income | 2,392 | 3,606 | -9,468 | -1,579 |
AOCI Balance, Ending | 2,867 | 13,501 | 2,867 | 13,501 |
Non-Credit OTTI [Member] | Available-for-sale Securities [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | ' |
AOCI Balance, Beginning | 15,425 | -79,157 | -9,684 | -119,274 |
Net change in unrealized gains (losses) | 2,474 | ' | 7,615 | ' |
Net change in fair value | -84 | ' | 35,095 | ' |
Net (gains) losses on sold securities | 0 | ' | -17,135 | ' |
Net Other-Than-Temporary Impairment Losses, credit portion | 0 | ' | 1,924 | ' |
Total Other Comprehensive Income | 2,390 | 35,626 | 27,499 | 75,743 |
AOCI Balance, Ending | 17,815 | -43,531 | 17,815 | -43,531 |
Non-Credit OTTI [Member] | Held-to-maturity Securities [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | ' |
AOCI Balance, Beginning | -275 | -350 | -312 | -392 |
Accretion of non-credit loss | 18 | ' | 55 | ' |
Total Other Comprehensive Income | 18 | 18 | 55 | 60 |
AOCI Balance, Ending | -257 | -332 | -257 | -332 |
Pension Benefits [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | ' |
AOCI Balance, Beginning | -11,698 | -10,098 | -12,397 | -8,955 |
Compensation and Benefits | 6,175 | ' | 6,874 | ' |
Total Other Comprehensive Income | 6,175 | -570 | 6,874 | -1,713 |
AOCI Balance, Ending | ($5,523) | ($10,668) | ($5,523) | ($10,668) |
Employee_Retirement_and_Deferr2
Employee Retirement and Deferred Compensation Plans - Defined Benefit Plan (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
SERP Expense Recorded in Compensation and Benefits | $14,101 | $8,516 | $33,153 | $26,565 |
Pension Benefits | -6,175 | 570 | -6,874 | 1,713 |
Supplemental Executive Retirement Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Service Cost | 136 | 224 | 592 | 667 |
Interest Cost | 112 | 205 | 520 | 611 |
Amortization of Prior Service Benefit | -3 | -3 | -8 | -8 |
Amortization of net actuarial loss (gain) | 135 | 392 | 875 | 1,167 |
Defined Benefit Plan, Net Periodic Benefit Cost | 380 | 818 | 1,979 | 2,437 |
Settlement loss | 5,093 | 0 | 5,093 | 0 |
SERP Expense Recorded in Compensation and Benefits | 5,473 | 818 | 7,072 | 2,437 |
Pension Benefits | -6,175 | 570 | -6,874 | 1,713 |
Total recognized in Compensation and Benefits and in OCI | -702 | 1,388 | 198 | 4,150 |
CEO Milton Miller [Member] | Supplemental Executive Retirement Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Settlement loss | $5,093 | ' | $5,093 | ' |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Segment | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Number of primary operating segments | ' | ' | 2 | ' | ' |
Net Interest Income | $52,126 | $59,082 | $173,133 | $181,348 | ' |
Provision for (Reversal of) Credit Losses | 314 | 5,634 | -3,451 | 7,917 | ' |
Other Income (Loss) | 551 | -2,168 | 28,463 | -8,655 | ' |
Other Expenses | 20,165 | 14,082 | 51,098 | 43,801 | ' |
Income Before Assessments | 32,198 | 37,198 | 153,949 | 120,975 | ' |
Affordable Housing Program Assessments | 3,442 | 4,056 | 16,066 | 13,157 | ' |
Net Income | 28,756 | 33,142 | 137,883 | 107,818 | ' |
Assets | 39,576,835 | ' | 39,576,835 | ' | 41,227,636 |
Traditional [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net Interest Income | 34,486 | 40,841 | 112,715 | 124,488 | ' |
Provision for (Reversal of) Credit Losses | 0 | 0 | 0 | 0 | ' |
Other Income (Loss) | -856 | -1,336 | 27,359 | -4,967 | ' |
Other Expenses | 18,324 | 12,771 | 46,347 | 39,928 | ' |
Income Before Assessments | 15,306 | 26,734 | 93,727 | 79,593 | ' |
Affordable Housing Program Assessments | 1,753 | 3,010 | 10,044 | 9,019 | ' |
Net Income | 13,553 | 23,724 | 83,683 | 70,574 | ' |
Assets | 33,417,188 | ' | 33,417,188 | ' | 35,226,231 |
Mortgage Loans [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net Interest Income | 17,640 | 18,241 | 60,418 | 56,860 | ' |
Provision for (Reversal of) Credit Losses | 314 | 5,634 | -3,451 | 7,917 | ' |
Other Income (Loss) | 1,407 | -832 | 1,104 | -3,688 | ' |
Other Expenses | 1,841 | 1,311 | 4,751 | 3,873 | ' |
Income Before Assessments | 16,892 | 10,464 | 60,222 | 41,382 | ' |
Affordable Housing Program Assessments | 1,689 | 1,046 | 6,022 | 4,138 | ' |
Net Income | 15,203 | 9,418 | 54,200 | 37,244 | ' |
Assets | $6,159,647 | ' | $6,159,647 | ' | $6,001,405 |
Estimated_Fair_Values_Carrying
Estimated Fair Values (Carrying Value and Fair Value of Financial Instruments) (Details) (USD $) | 0 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Apr. 04, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | ||
Security | Security | ||||
Assets: | ' | ' | ' | ||
Interest-Bearing Deposits | ' | $487 | $48 | ||
AFS securities | ' | 3,688,783 | 3,980,580 | ||
HTM securities | ' | 7,437,226 | 7,738,596 | ||
Derivative Asset, net | ' | 7,655 | 821 | ||
Consolidated Obligations: | ' | ' | ' | ||
Federal Home Loan Bank, Consolidated Obligations, Discount Notes | ' | 7,804,773 | 8,924,085 | ||
Federal Home Loan Bank, Consolidated Obligations, Bonds | ' | 27,623,120 | 27,407,530 | ||
Derivative Liability | ' | 187,234 | 201,115 | ||
Private-Label RMBS [Member] | ' | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ||
Number of AFS securities sold | 6 | 6 | ' | ||
Assets: | ' | ' | ' | ||
AFS securities | ' | 488,569 | 640,142 | ||
Level 1 [Member] | ' | ' | ' | ||
Assets: | ' | ' | ' | ||
Cash and Due from Banks | ' | 514,383 | 105,472 | ||
Interest-Bearing Deposits | ' | 0 | 0 | ||
Securities Purchased Under Agreements to Resell | ' | 0 | 0 | ||
Federal Funds Sold | ' | 0 | 0 | ||
AFS securities | ' | 0 | 0 | ||
HTM securities | ' | 0 | 0 | ||
Advances | ' | 0 | 0 | ||
Mortgage Loans Held for Portfolio, net | ' | 0 | 0 | ||
Accrued Interest Receivable | ' | 0 | 0 | ||
Derivative Asset, net | ' | 0 | 0 | ||
Grantor Trust Assets (included in Other Assets) | ' | 12,061 | 18,440 | ||
Liabilities: | ' | ' | ' | ||
Deposits | ' | 0 | 0 | ||
Consolidated Obligations: | ' | ' | ' | ||
Federal Home Loan Bank, Consolidated Obligations, Discount Notes | ' | 0 | 0 | ||
Federal Home Loan Bank, Consolidated Obligations, Bonds | ' | 0 | 0 | ||
Accrued Interest Payable | ' | 0 | 0 | ||
Derivative Liability | ' | 0 | 0 | ||
MRCS | ' | 255,319 | 450,716 | ||
Level 2 [Member] | ' | ' | ' | ||
Assets: | ' | ' | ' | ||
Cash and Due from Banks | ' | 0 | 0 | ||
Interest-Bearing Deposits | ' | 487 | 48 | ||
Securities Purchased Under Agreements to Resell | ' | 2,700,000 | 3,250,000 | ||
Federal Funds Sold | ' | 245,000 | 2,110,000 | ||
AFS securities | ' | 3,200,214 | 3,340,438 | ||
HTM securities | ' | 7,260,140 | 7,490,101 | ||
Advances | ' | 18,900,794 | 18,298,372 | ||
Mortgage Loans Held for Portfolio, net | ' | 6,256,720 | 6,265,990 | ||
Accrued Interest Receivable | ' | 81,966 | 87,455 | ||
Derivative Asset, net | ' | 115,613 | 73,578 | ||
Grantor Trust Assets (included in Other Assets) | ' | 0 | 0 | ||
Liabilities: | ' | ' | ' | ||
Deposits | ' | 1,114,509 | 1,787,151 | ||
Consolidated Obligations: | ' | ' | ' | ||
Federal Home Loan Bank, Consolidated Obligations, Discount Notes | ' | 7,806,128 | 8,925,828 | ||
Federal Home Loan Bank, Consolidated Obligations, Bonds | ' | 27,710,117 | 28,162,392 | ||
Accrued Interest Payable | ' | 94,866 | 87,777 | ||
Derivative Liability | ' | 691,361 | 951,521 | ||
MRCS | ' | 0 | 0 | ||
Level 3 [Member] | ' | ' | ' | ||
Assets: | ' | ' | ' | ||
Cash and Due from Banks | ' | 0 | 0 | ||
Interest-Bearing Deposits | ' | 0 | 0 | ||
Securities Purchased Under Agreements to Resell | ' | 0 | 0 | ||
Federal Funds Sold | ' | 0 | 0 | ||
AFS securities | ' | 488,569 | 640,142 | ||
HTM securities | ' | 177,086 | 248,495 | ||
Advances | ' | 0 | 0 | ||
Mortgage Loans Held for Portfolio, net | ' | 48,610 | 52,993 | ||
Accrued Interest Receivable | ' | 0 | 0 | ||
Derivative Asset, net | ' | 0 | 0 | ||
Grantor Trust Assets (included in Other Assets) | ' | 0 | 0 | ||
Liabilities: | ' | ' | ' | ||
Deposits | ' | 0 | 0 | ||
Consolidated Obligations: | ' | ' | ' | ||
Federal Home Loan Bank, Consolidated Obligations, Discount Notes | ' | 0 | 0 | ||
Federal Home Loan Bank, Consolidated Obligations, Bonds | ' | 0 | 0 | ||
Accrued Interest Payable | ' | 0 | 0 | ||
Derivative Liability | ' | 0 | 0 | ||
MRCS | ' | 0 | 0 | ||
Netting Adjustment [Member] | ' | ' | ' | ||
Assets: | ' | ' | ' | ||
Cash and Due from Banks | ' | 0 | [1] | 0 | [1] |
Interest-Bearing Deposits | ' | 0 | [1] | 0 | [1] |
Securities Purchased Under Agreements to Resell | ' | 0 | [1] | 0 | [1] |
Federal Funds Sold | ' | 0 | [1] | 0 | [1] |
AFS securities | ' | 0 | [1] | 0 | [1] |
HTM securities | ' | 0 | [1] | 0 | [1] |
Advances | ' | 0 | [1] | 0 | [1] |
Mortgage Loans Held for Portfolio, net | ' | 0 | [1] | 0 | [1] |
Accrued Interest Receivable | ' | 0 | [1] | 0 | [1] |
Derivative Asset, net | ' | -107,958 | [1] | -72,757 | [1] |
Grantor Trust Assets (included in Other Assets) | ' | 0 | [1] | 0 | [1] |
Liabilities: | ' | ' | ' | ||
Deposits | ' | 0 | [1] | 0 | [1] |
Consolidated Obligations: | ' | ' | ' | ||
Federal Home Loan Bank, Consolidated Obligations, Discount Notes | ' | 0 | [1] | 0 | [1] |
Federal Home Loan Bank, Consolidated Obligations, Bonds | ' | 0 | [1] | 0 | [1] |
Accrued Interest Payable | ' | 0 | [1] | 0 | [1] |
Derivative Liability | ' | -504,127 | [1] | -750,406 | [1] |
MRCS | ' | 0 | [1] | 0 | [1] |
Carrying Value [Member] | ' | ' | ' | ||
Assets: | ' | ' | ' | ||
Cash and Due from Banks | ' | 514,383 | 105,472 | ||
Interest-Bearing Deposits | ' | 487 | 48 | ||
Securities Purchased Under Agreements to Resell | ' | 2,700,000 | 3,250,000 | ||
Federal Funds Sold | ' | 245,000 | 2,110,000 | ||
AFS securities | ' | 3,688,783 | 3,980,580 | ||
HTM securities | ' | 7,321,459 | 7,504,643 | ||
Advances | ' | 18,796,297 | 18,129,458 | ||
Mortgage Loans Held for Portfolio, net | ' | 6,159,647 | 6,001,405 | ||
Accrued Interest Receivable | ' | 81,966 | 87,455 | ||
Derivative Asset, net | ' | 7,655 | 821 | ||
Grantor Trust Assets (included in Other Assets) | ' | 12,061 | 18,440 | ||
Liabilities: | ' | ' | ' | ||
Deposits | ' | 1,114,509 | 1,787,151 | ||
Consolidated Obligations: | ' | ' | ' | ||
Federal Home Loan Bank, Consolidated Obligations, Discount Notes | ' | 7,804,773 | 8,924,085 | ||
Federal Home Loan Bank, Consolidated Obligations, Bonds | ' | 27,623,120 | 27,407,530 | ||
Accrued Interest Payable | ' | 94,866 | 87,777 | ||
Derivative Liability | ' | 187,234 | 201,115 | ||
MRCS | ' | 255,319 | 450,716 | ||
Fair Value [Member] | ' | ' | ' | ||
Assets: | ' | ' | ' | ||
Cash and Due from Banks | ' | 514,383 | 105,472 | ||
Interest-Bearing Deposits | ' | 487 | 48 | ||
Securities Purchased Under Agreements to Resell | ' | 2,700,000 | 3,250,000 | ||
Federal Funds Sold | ' | 245,000 | 2,110,000 | ||
AFS securities | ' | 3,688,783 | 3,980,580 | ||
HTM securities | ' | 7,437,226 | 7,738,596 | ||
Advances | ' | 18,900,794 | 18,298,372 | ||
Mortgage Loans Held for Portfolio, net | ' | 6,305,330 | 6,318,983 | ||
Accrued Interest Receivable | ' | 81,966 | 87,455 | ||
Derivative Asset, net | ' | 7,655 | 821 | ||
Grantor Trust Assets (included in Other Assets) | ' | 12,061 | 18,440 | ||
Liabilities: | ' | ' | ' | ||
Deposits | ' | 1,114,509 | 1,787,151 | ||
Consolidated Obligations: | ' | ' | ' | ||
Federal Home Loan Bank, Consolidated Obligations, Discount Notes | ' | 7,806,128 | 8,925,828 | ||
Federal Home Loan Bank, Consolidated Obligations, Bonds | ' | 27,710,117 | 28,162,392 | ||
Accrued Interest Payable | ' | 94,866 | 87,777 | ||
Derivative Liability | ' | 187,234 | 201,115 | ||
MRCS | ' | $255,319 | $450,716 | ||
[1] | Amounts represent the application of the netting requirements that allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparty. |
Estimated_Fair_Values_Estimate
Estimated Fair Values (Estimated Fair Value on a Recurring Basis) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | $3,688,783 | $3,980,580 | ||
Derivative Assets: | ' | ' | ||
Derivative Assets - Mortgage delivery commitments | 3,233 | 2,281 | ||
Derivative Asset, net | 7,655 | 821 | ||
Derivative Liabilities: | ' | ' | ||
Derivative Liabilities - Mortgage delivery commitments | 2,818 | 305 | ||
Derivative Liability, net | 187,234 | 201,115 | ||
Mortgage Delivery Commitments [Member] | ' | ' | ||
Derivative Assets: | ' | ' | ||
Derivative Assets - Mortgage delivery commitments | 1,247 | 289 | ||
Derivative Liabilities: | ' | ' | ||
Derivative Liabilities - Mortgage delivery commitments | 0 | 29 | ||
Private-Label RMBS [Member] | ' | ' | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 488,569 | 640,142 | ||
Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Grantor Trust Assets (included in Other Assets) | 12,061 | 18,440 | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 0 | 0 | ||
Derivative Assets: | ' | ' | ||
Derivative Asset, net | 0 | 0 | ||
Derivative Liabilities: | ' | ' | ||
Derivative Liability, net | 0 | 0 | ||
Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Grantor Trust Assets (included in Other Assets) | 0 | 0 | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 3,200,214 | 3,340,438 | ||
Derivative Assets: | ' | ' | ||
Derivative Asset, net | 115,613 | 73,578 | ||
Derivative Liabilities: | ' | ' | ||
Derivative Liability, net | 691,361 | 951,521 | ||
Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Grantor Trust Assets (included in Other Assets) | 0 | 0 | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 488,569 | 640,142 | ||
Derivative Assets: | ' | ' | ||
Derivative Asset, net | 0 | 0 | ||
Derivative Liabilities: | ' | ' | ||
Derivative Liability, net | 0 | 0 | ||
Netting Adjustment [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Grantor Trust Assets (included in Other Assets) | 0 | [1] | 0 | [1] |
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 0 | [1] | 0 | [1] |
Derivative Assets: | ' | ' | ||
Derivative Asset, net | -107,958 | [1] | -72,757 | [1] |
Derivative Liabilities: | ' | ' | ||
Derivative Liability, net | -504,127 | [1] | -750,406 | [1] |
Recurring [Member] | Fair Value [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Grantor Trust Assets (included in Other Assets) | 12,061 | 18,440 | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 3,688,783 | 3,980,580 | ||
Derivative Assets: | ' | ' | ||
Derivative Assets - Interest-rate related | 6,408 | 302 | ||
Derivative Assets - Interest-rate futures/forwards | 0 | 230 | ||
Derivative Asset, net | 7,655 | 821 | ||
Total recurring assets at estimated fair value | 3,708,499 | 3,999,841 | ||
Derivative Liabilities: | ' | ' | ||
Derivative Liabilities - Interest-rate related | 184,755 | 201,043 | ||
Derivative Liabilities - Interest-rate futures/forwards | 2,479 | 43 | ||
Derivative Liability, net | 187,234 | 201,115 | ||
Total recurring liabilities at estimated fair value | 187,234 | 201,115 | ||
Recurring [Member] | Fair Value [Member] | Mortgage Delivery Commitments [Member] | ' | ' | ||
Derivative Assets: | ' | ' | ||
Derivative Assets - Mortgage delivery commitments | 1,247 | 289 | ||
Derivative Liabilities: | ' | ' | ||
Derivative Liabilities - Mortgage delivery commitments | 0 | 29 | ||
Recurring [Member] | Fair Value [Member] | GSE and TVA Debentures [Member] | ' | ' | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 3,200,214 | 3,340,438 | ||
Recurring [Member] | Fair Value [Member] | Private-Label RMBS [Member] | ' | ' | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 488,569 | 640,142 | ||
Recurring [Member] | Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Grantor Trust Assets (included in Other Assets) | 12,061 | 18,440 | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 0 | 0 | ||
Derivative Assets: | ' | ' | ||
Derivative Assets - Interest-rate related | 0 | 0 | ||
Derivative Assets - Interest-rate futures/forwards | 0 | 0 | ||
Derivative Asset, net | 0 | 0 | ||
Total recurring assets at estimated fair value | 12,061 | 18,440 | ||
Derivative Liabilities: | ' | ' | ||
Derivative Liabilities - Interest-rate related | 0 | 0 | ||
Derivative Liabilities - Interest-rate futures/forwards | 0 | 0 | ||
Derivative Liability, net | 0 | 0 | ||
Total recurring liabilities at estimated fair value | 0 | 0 | ||
Recurring [Member] | Level 1 [Member] | Mortgage Delivery Commitments [Member] | ' | ' | ||
Derivative Assets: | ' | ' | ||
Derivative Assets - Mortgage delivery commitments | 0 | 0 | ||
Derivative Liabilities: | ' | ' | ||
Derivative Liabilities - Mortgage delivery commitments | 0 | 0 | ||
Recurring [Member] | Level 1 [Member] | GSE and TVA Debentures [Member] | ' | ' | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 0 | 0 | ||
Recurring [Member] | Level 1 [Member] | Private-Label RMBS [Member] | ' | ' | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 0 | 0 | ||
Recurring [Member] | Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Grantor Trust Assets (included in Other Assets) | 0 | 0 | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 3,200,214 | 3,340,438 | ||
Derivative Assets: | ' | ' | ||
Derivative Assets - Interest-rate related | 114,366 | 73,059 | ||
Derivative Assets - Interest-rate futures/forwards | 0 | 230 | ||
Derivative Asset, net | 115,613 | 73,578 | ||
Total recurring assets at estimated fair value | 3,315,827 | 3,414,016 | ||
Derivative Liabilities: | ' | ' | ||
Derivative Liabilities - Interest-rate related | 688,882 | 951,449 | ||
Derivative Liabilities - Interest-rate futures/forwards | 2,479 | 43 | ||
Derivative Liability, net | 691,361 | 951,521 | ||
Total recurring liabilities at estimated fair value | 691,361 | 951,521 | ||
Recurring [Member] | Level 2 [Member] | Mortgage Delivery Commitments [Member] | ' | ' | ||
Derivative Assets: | ' | ' | ||
Derivative Assets - Mortgage delivery commitments | 1,247 | 289 | ||
Derivative Liabilities: | ' | ' | ||
Derivative Liabilities - Mortgage delivery commitments | 0 | 29 | ||
Recurring [Member] | Level 2 [Member] | GSE and TVA Debentures [Member] | ' | ' | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 3,200,214 | 3,340,438 | ||
Recurring [Member] | Level 2 [Member] | Private-Label RMBS [Member] | ' | ' | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 0 | 0 | ||
Recurring [Member] | Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Grantor Trust Assets (included in Other Assets) | 0 | 0 | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 488,569 | 640,142 | ||
Derivative Assets: | ' | ' | ||
Derivative Assets - Interest-rate related | 0 | 0 | ||
Derivative Assets - Interest-rate futures/forwards | 0 | 0 | ||
Derivative Asset, net | 0 | 0 | ||
Total recurring assets at estimated fair value | 488,569 | 640,142 | ||
Derivative Liabilities: | ' | ' | ||
Derivative Liabilities - Interest-rate related | 0 | 0 | ||
Derivative Liabilities - Interest-rate futures/forwards | 0 | 0 | ||
Derivative Liability, net | 0 | 0 | ||
Total recurring liabilities at estimated fair value | 0 | 0 | ||
Recurring [Member] | Level 3 [Member] | Mortgage Delivery Commitments [Member] | ' | ' | ||
Derivative Assets: | ' | ' | ||
Derivative Assets - Mortgage delivery commitments | 0 | 0 | ||
Derivative Liabilities: | ' | ' | ||
Derivative Liabilities - Mortgage delivery commitments | 0 | 0 | ||
Recurring [Member] | Level 3 [Member] | GSE and TVA Debentures [Member] | ' | ' | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 0 | 0 | ||
Recurring [Member] | Level 3 [Member] | Private-Label RMBS [Member] | ' | ' | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 488,569 | 640,142 | ||
Recurring [Member] | Netting Adjustment [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Grantor Trust Assets (included in Other Assets) | 0 | [1] | 0 | [1] |
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 0 | [1] | 0 | [1] |
Derivative Assets: | ' | ' | ||
Derivative Assets - Interest-rate related | -107,958 | [1] | -72,757 | [1] |
Derivative Assets - Interest-rate futures/forwards | 0 | [1] | 0 | [1] |
Derivative Asset, net | -107,958 | [1] | -72,757 | [1] |
Total recurring assets at estimated fair value | -107,958 | [1] | -72,757 | [1] |
Derivative Liabilities: | ' | ' | ||
Derivative Liabilities - Interest-rate related | -504,127 | [1] | -750,406 | [1] |
Derivative Liabilities - Interest-rate futures/forwards | 0 | [1] | 0 | [1] |
Derivative Liability, net | -504,127 | [1] | -750,406 | [1] |
Total recurring liabilities at estimated fair value | -504,127 | [1] | -750,406 | [1] |
Recurring [Member] | Netting Adjustment [Member] | Mortgage Delivery Commitments [Member] | ' | ' | ||
Derivative Assets: | ' | ' | ||
Derivative Assets - Mortgage delivery commitments | 0 | [1] | 0 | [1] |
Derivative Liabilities: | ' | ' | ||
Derivative Liabilities - Mortgage delivery commitments | 0 | [1] | 0 | [1] |
Recurring [Member] | Netting Adjustment [Member] | GSE and TVA Debentures [Member] | ' | ' | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | 0 | [1] | 0 | [1] |
Recurring [Member] | Netting Adjustment [Member] | Private-Label RMBS [Member] | ' | ' | ||
AFS securities: | ' | ' | ||
Available-for-Sale Securities (Notes 3 and 5) | $0 | [1] | $0 | [1] |
[1] | Amounts represent the application of the netting requirements that allow us to settle positive and negative positions and also cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparty. |
Estimated_Fair_Values_Level_3_
Estimated Fair Values (Level 3 Reconciliation) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Net change in fair value not in excess of cumulative non-credit losses in OCI | ($84) | $32,311 | $35,095 | $64,096 |
Reclassification of non-credit portion in OCI to Other Income (Loss) | 0 | 14 | 1,924 | 3,592 |
Recurring [Member] | Level 2 [Member] | Private-Label RMBS [Member] | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Transfers out | ' | ' | -124,179 | ' |
Recurring [Member] | Level 3 [Member] | Private-Label RMBS [Member] | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Balance, beginning of period | 511,952 | 602,975 | 640,142 | 601,309 |
Accretion of credit losses in Net Interest Income | 37 | 89 | 95 | 644 |
Net gains (losses) on changes in fair value in Other Income (Loss) | 0 | -14 | 0 | -3,592 |
Net change in fair value not in excess of cumulative non-credit losses in OCI | -84 | 32,311 | 12,625 | 64,096 |
Unrealized gains (losses) in OCI | 2,474 | 3,301 | 16,843 | 8,055 |
Reclassification of non-credit portion in OCI to Other Income (Loss) | 0 | 14 | 0 | 3,592 |
Settlements | -25,810 | -17,735 | -56,957 | -53,163 |
Transfers out | 0 | 0 | -124,179 | ' |
Balance, end of period | 488,569 | 620,941 | 488,569 | 620,941 |
Net gains (losses) included in earnings attributable to changes in fair value relating to assets still held at end of period | $37 | $75 | $95 | ($2,948) |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Loss Contingencies [Line Items] | ' | ' | |
Cash collateral pledged | $396,944 | $677,550 | |
Maximum [Member] | ' | ' | |
Loss Contingencies [Line Items] | ' | ' | |
Commitments to fund additional Advances are generally for periods up | '6 months | ' | |
Standby Letters of Credit Outstanding [Member] | ' | ' | |
Loss Contingencies [Line Items] | ' | ' | |
Off-balance-sheet commitments expire within one year | 112,594 | ' | |
Off-balance-sheet commitments expire after one year | 153,433 | ' | |
Off-balance-sheet commitments,Total | 266,027 | ' | |
Unused Lines of Credit [Member] | ' | ' | |
Loss Contingencies [Line Items] | ' | ' | |
Off-balance-sheet commitments expire within one year | 793,552 | ' | |
Off-balance-sheet commitments expire after one year | 0 | ' | |
Off-balance-sheet commitments,Total | 793,552 | ' | |
Commitments to Fund Additional Advances [Member] | ' | ' | |
Loss Contingencies [Line Items] | ' | ' | |
Off-balance-sheet commitments expire within one year | 20,550 | [1] | ' |
Off-balance-sheet commitments expire after one year | 0 | [1] | ' |
Off-balance-sheet commitments,Total | 20,550 | [1] | ' |
Commitments to Fund or Purchase Mortgage Loans and Participation Interest [Member] | ' | ' | |
Loss Contingencies [Line Items] | ' | ' | |
Off-balance-sheet commitments expire within one year | 101,983 | ' | |
Off-balance-sheet commitments expire after one year | 0 | ' | |
Off-balance-sheet commitments,Total | 101,983 | ' | |
Unsettled CO Bonds, at par [Member] | ' | ' | |
Loss Contingencies [Line Items] | ' | ' | |
Off-balance-sheet commitments expire within one year | 1,010,000 | [2] | ' |
Off-balance-sheet commitments expire after one year | 0 | [2] | ' |
Off-balance-sheet commitments,Total | 1,010,000 | [2] | ' |
Unsettled CO Bonds, at par [Member] | Interest Rate Swaps [Member] | ' | ' | |
Loss Contingencies [Line Items] | ' | ' | |
Off-balance-sheet commitments,Total | $1,000,000 | ' | |
[1] | Commitments to fund additional Advances are generally for periods up to six months and include no outstanding commitments to issue standby letters of credit. | ||
[2] | Unsettled CO Bonds of $1,000,000 were hedged with associated interest-rate swaps. |
Transactions_with_Related_Part2
Transactions with Related Parties (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | ||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | |||||
Advances at par value | $18,365,493,000 | ' | $18,365,493,000 | ' | $17,382,219,000 | |||||
Mortgage Loans Held for Portfolio, UPB | 6,061,373,000 | ' | 6,061,373,000 | ' | 5,926,144,000 | |||||
Mortgage loans acquired | ' | ' | 1,263,177,000 | 1,006,139,000 | ' | |||||
Service Fees | 225,000 | 236,000 | 684,000 | 723,000 | ' | |||||
Flagstar Bank, FSB [Member] | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | |||||
Capital Stock, including MRCS, par value | 301,737,000 | ' | 301,737,000 | ' | 301,737,000 | |||||
Capital Stock, including MRCS, % of Total | 16.00% | ' | 16.00% | ' | 14.00% | |||||
Advances at par value | 2,907,598,000 | ' | 2,907,598,000 | ' | 3,180,000,000 | |||||
Advances, % of Total | 16.00% | ' | 16.00% | ' | 18.00% | |||||
Mortgage Loans Held for Portfolio, UPB | 554,658,000 | [1] | ' | 554,658,000 | [1] | ' | 656,931,000 | [1] | ||
Mortgage Loans Held for Portfolio, % of Total | 9.00% | [1] | ' | 9.00% | [1] | ' | 11.00% | [1] | ||
Net advances to (repayments from) | 7,598,000 | -312,000,000 | -272,402,000 | -865,000,000 | ' | |||||
Bank of America N A [Member] | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | |||||
Capital Stock, including MRCS, par value | ' | ' | ' | ' | 224,921,000 | |||||
Capital Stock, including MRCS, % of Total | ' | ' | ' | ' | 11.00% | |||||
Advances at par value | ' | ' | ' | ' | 300,000,000 | |||||
Advances, % of Total | ' | ' | ' | ' | 2.00% | |||||
Mortgage Loans Held for Portfolio, UPB | ' | ' | ' | ' | 1,210,009,000 | [1] | ||||
Mortgage Loans Held for Portfolio, % of Total | ' | ' | ' | ' | 20.00% | [1] | ||||
Net advances to (repayments from) | 0 | [2] | 0 | [2] | 0 | [2] | -100,000,000 | [2] | ' | |
Directors' Financial Institutions [Member] | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | |||||
Capital Stock, including MRCS, par value | 42,842,000 | ' | 42,842,000 | ' | 74,114,000 | |||||
Capital Stock, including MRCS, % of Total | 2.00% | ' | 2.00% | ' | 4.00% | |||||
Advances at par value | 238,815,000 | ' | 238,815,000 | ' | 462,758,000 | |||||
Advances, % of Total | 1.00% | ' | 1.00% | ' | 3.00% | |||||
Mortgage Loans Held for Portfolio, UPB | 78,774,000 | [3] | ' | 78,774,000 | [3] | ' | 74,235,000 | [3] | ||
Mortgage Loans Held for Portfolio, % of Total | 1.00% | [3] | ' | 1.00% | [3] | ' | 1.00% | [3] | ||
Net advances to (repayments from) | 13,678,000 | -18,931,000 | -108,340,000 | -21,717,000 | ' | |||||
Mortgage loans acquired | 8,110,000 | 12,515,000 | 21,271,000 | 24,854,000 | ' | |||||
Related Parties Holding 10% or more of our Capital Stock and MRCS [Member] | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | |||||
Capital Stock, including MRCS, par value | 301,737,000 | [4] | ' | 301,737,000 | [4] | ' | 526,658,000 | |||
Capital Stock, including MRCS, % of Total | 16.00% | [4] | ' | 16.00% | [4] | ' | 25.00% | |||
Advances at par value | 2,907,598,000 | [4] | ' | 2,907,598,000 | [4] | ' | 3,480,000,000 | |||
Advances, % of Total | 16.00% | [4] | ' | 16.00% | [4] | ' | 20.00% | |||
Mortgage Loans Held for Portfolio, UPB | 554,658,000 | [1],[4] | ' | 554,658,000 | [1],[4] | ' | 1,866,940,000 | [1] | ||
Mortgage Loans Held for Portfolio, % of Total | 9.00% | [1],[4] | ' | 9.00% | [1],[4] | ' | 31.00% | [1] | ||
FHLBank of Topeka [Member] | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | |||||
Payments for participation interests | 53,581,000 | 65,338,000 | 309,477,000 | 65,338,000 | ' | |||||
FHLBank of Chicago [Member] | ' | ' | ' | ' | ' | |||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | |||||
Service Fees | $68,000 | $2,000 | $160,000 | $2,000 | ' | |||||
[1] | Represents UPB of mortgage loans purchased from related party. | |||||||||
[2] | Bank of America, N.A. did not meet the definition of a related party following our repurchase of excess stock in February 2013. | |||||||||
[3] | Represents UPB of mortgage loans purchased from Directors' Financial Institutions. | |||||||||
[4] | Bank of America, N.A. did not meet the definition of a related party as of SeptemberB 30, 2013 as a result of our repurchase of excess stock in February 2013. |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 9 Months Ended | 1 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Oct. 31, 2013 | Oct. 31, 2013 |
Member or former members [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||
Member or former members [Member] | MRCS [Member] | |||
Member or former members [Member] | ||||
Subsequent Event [Line Items] | ' | ' | ' | ' |
Intended repurchase of excess stock held, par value | $250,000 | $250,000 | ' | ' |
Shares repurchased that were contractually due in 2013, amount | ' | ' | 13,952 | ' |
Shares repurchased that were not contractually due until 2014 or later, amount | ' | ' | 236,048 | ' |
Additional excess stock redeemed | ' | $40,975 | $95,489 | $154,511 |